Via Gonintendo:

http://www.gonintendo.com/viewstory.php?id=108241

NEW YORK, Dec 17, 2009 (BUSINESS WIRE) — Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced financial results for its fourth quarter and fiscal year ended October 31, 2009.

Net revenue for the fourth fiscal quarter was $343.4 million, compared to $323.4 million for the same quarter of fiscal 2008. Fourth quarter fiscal 2009 sales were led by Borderlands™, NBA®2K10, Grand Theft Auto: Episodes from Liberty City, Grand Theft Auto: The Ballad of Gay Tony, and Grand Theft Auto IV.

Net loss for the fourth quarter was $22.0 million or $0.28 per share, compared to net loss of $15.0 million or $0.20 per share in the fourth quarter of fiscal 2008.

The fourth quarter 2009 results included $14.8 million in non-cash goodwill and intangible impairment charges on its distribution segment in connection with the Company’s annual assessment of goodwill ($0.19 per share); $9.8 million in stock-based compensation expense ($0.13 per share); and $4.3 million in non-cash tax expense for the cumulative impact of deferred tax liabilities associated with tax deductible amortization of goodwill ($0.06 per share). Results for the fourth quarter of 2008 included $9.3 million in stock-based compensation expense ($0.12 per share); and $7.2 million in professional fees and expenses related to unusual matters, as well as business reorganization costs ($0.09 per share).

Non-GAAP net income was $7.0 million or $0.09 per share in the fourth quarter of fiscal 2009, compared to non-GAAP net income of $1.6 million or $0.02 per share in the fourth 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).

For the fiscal year ended October 31, 2009, net revenue was $968.5 million, compared to $1,537.5 million for fiscal 2008, which included the release and strong post-launch performance of Grand Theft Auto IV. Net loss for fiscal 2009 was $137.9 million or $1.80 per share, compared to net income of $97.1 million or $1.28 for fiscal 2008. Results for fiscal 2009 included $25.9 million in stock-based compensation expense ($0.34 per share); $14.8 million in non-cash goodwill and intangible impairment charges on its distribution segment in connection with the Company’s annual assessment of goodwill ($0.19 per share); $7.2 million in professional fees and expenses related to unusual matters ($0.09 per share); and $4.3 million in non-cash tax expense for the cumulative impact of deferred tax liabilities associated with tax deductible amortization of goodwill ($0.06 per share). Results for fiscal 2008 included $40.4 million in stock-based compensation expense ($0.53 per share); and $20.7 million in professional fees and expenses related to unusual matters, as well as business reorganization costs ($0.27 per share).

Non-GAAP net loss was $85.7 million or $1.12 per share for fiscal 2009, compared to a record non-GAAP net income of $158.2 million or $2.08 per share for fiscal 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).

Revenues are up for the quarter, but losses are higher anyway. Considering their huge annual revenue drop of 37%, I'm surprised they didn't lose more money this year, actually.

I don't understand how Take Two can lose so much money every quarter. They've been losing money for years now every quarter in which a mainline GTA hasn't released, despite successes like Carnival Games, Bioshock, NBA 2K, GTA DLC, etc. I know MLB 2K hurts them, but that's one series.

They are, by all reports, a bloated, horribly mismanaged company that would find a way to lose money if you locked them in Scrooge McDuck's vault.

I have also wondered how they can lose so much money with their games. Same is also with EA though. They sell huge amount of software each quarter and still lose huge amount of money. And people say that Japanese puplishers are in trouble when they actually make profit.

It's insane how a company with such big successful titles can still somehow manage to lose that much money.

Take-two only did make money on GTA IV because microsoft paid millions of dollars for the exclusive content. This is a company that cannot adapt to current gaming trends. And of course that despising the wii do not help to improve their profitability

I don't think that T2 will be with us by the end of his generation.

Its easy to mismanage. This is a company that is in sore need to complete restructuring. GTA keeps them alive.

I still think it was a horrible move for them to have denied the EA buyout offer. Check the stock prices now. Their stock price went from $25 at buyout time to...$8 as of today. Not to say that I thought EA buying them was a good idea in the first place however.

Too many people there, who probably aren't doing much work.

Need to cut some fat out. How they could possibly lose money is beyond comprehension.