Take-Two Interactive Reports Financial Loss Of $137M

The Q4 financial results for Take-Two Interactive are in and the company is at a loss. Net loss for fiscal 2009 was $137.9 million compared to net income of $97.1 million for fiscal 2008, while net revenue for 2009 was $968.5 million compared to 2008 (year of GTA IV's launch) that earned a net revenue of $1,537.5 million. This is one of many game companies that have experienced losses this year.

“Our company and industry experienced a very difficult economic environment in 2009. We believe that 2010 will continue to be challenging and our outlook, while disappointing, reflects a prudent approach to managing our business,” said Strauss Zelnick, chairman of Take-Two. “The fact remains that Take-Two is in a fundamentally strong position to build long term value. We have an outstanding portfolio of hit franchises based largely on internally developed and owned intellectual property, a team of extraordinarily creative and talented people, opportunities to extend our business to new media and markets, and the financial resources to support our strategies.”

With the number of AAA titles set to launch in 2010, the company still holds a positive outlook.

“We are excited about our product line-up for 2010, which includes BioShock 2, Mafia II, Max Payne 3 and Red Dead Redemption. We also have just announced Spec Ops: The Line, an intense military third-person shooter, for fiscal 2011. Our broad portfolio reflects the fantastic creative assets that will be the source of our long term success. Moving forward, we plan to build our company by continuing to focus on select high-potential titles, leveraging our successful franchises and applying our creative abilities to emerging opportunities. We also intend to strengthen our business through increased cost management, improved operational efficiencies, and the timely delivery of our titles.”

Which of Take-Two Interactive’s upcoming titles are you looking forward to?

[Via Edge]