http://ir.take2games.com/releaseDetail.cfm?ReleaseID=370041

Take-Two Interactive Software, Inc. Reports First Quarter Fiscal 2009 Financial Results

New York, NY - March 10, 2009 - Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced financial results for its first fiscal quarter ended January 31, 2009.

Net revenue for the first quarter was $256.8 million, compared to $240.4 million for the same quarter of fiscal 2008. First quarter sales were led by Grand Theft Auto IV, Carnival Games, NBA 2K9 and Midnight Club: Los Angeles.

Net loss for the first quarter was $50.4 million or $0.66 per share, compared to a net loss of $38.0 million or $0.52 per share in the first quarter of fiscal 2008. The Company's increased loss for the first quarter compared to the prior year was primarily due to higher marketing, legal, and research and development expenses.

The first quarter results include $6.2 million in stock-based compensation expense ($0.08 per share) and $4.9 million in expenses related to unusual legal matters ($0.06 per share). Results for the first quarter of 2008 included $6.1 million in stock-based compensation expense ($0.08 per share) and $1.7 million in expenses related to unusual legal matters and business reorganization costs ($0.02 per share).

Non-GAAP net loss was $39.3 million or $0.52 per share in the first quarter, compared to a net loss of $30.3 million or $0.41 per share in the first quarter of 2008. (Please refer to Non-GAAP Financial Measures and reconciliation tables included later in this release for additional information and details on non-GAAP items.)

Business Highlights

Among the significant recent business developments, Take-Two noted the following:

• Over 13 million units of Rockstar Games' Grand Theft Auto IV have been shipped as of January 31, 2009.
  
• Rockstar Games announced Red Dead Redemption, a follow-up to the 2004 hit game Red Dead Revolver, which is in development at Rockstar San Diego and planned for a fall 2009 release.
  
• 2K Play's wholly owned Carnival Games™ franchise, including Carnival Games for Nintendo's Wii™ and DS™, and Carnival Games™ MiniGolf for Wii, has shipped over four million units worldwide.

...

Product Pipeline

The following titles shipped during the first and second quarters of 2009:

Take-Two's lineup announced to date for the remainder of fiscal 2009 includes the following titles:

Wow. That is very interesting indeed Noname. Publishing revenue for consoles is highest on Wii? How? No GTA, no Bioshock, that is very interesting indeed. I also saw somewhere that all of a sudden Take-Two wants to call themselves the best publisher to bring Mature titles to the Wii..We'll see how that pans out.

Even withouth their best franchises the Wii is getting them the most revenue from the 3 consoles?

Edit: Nevermind, I'm an idiot who's evidently dyslexic (at least that part's new...). Carry on!

All of which leads to a few simple questions: what are people buying on the Wii/PS2? I suppose the Wii has Carnival Games (including the new mini-golf version), but what else has Take-Two released for it? And the PS2? Where did THAT come from?

Huge revenue but no profit...

19% of their revenue comes from Wii? from what game? Carnival games? did that game somehow give more "profit" then GTA?

Well if this doesn't show that they need to take the Wii more seriously I don't know what else can.

WOW THAT'S JUST BAD!!

I still FAIL to understand

Despit ehaving GTA....one of the biggest franchises in gaming

how the hell does Take Two manage to loose money

its beyond me!

What have they released in Q1? I'm guessing the lack of PS360 games whatsoever reduced their revenue, while Wii remained consistent as Carnival games sells a reasonable amount every week? *shrug*.

Can't see how they'd have made a profit this quarter, no big releases and whatnot... except the remains of Midnight Club?

How was their 2008 Q4? :/.

other than bioshock, and GTA, Take Two doesn't have that many big sellers