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Based on estimates, Take-Two is now expecting $1.180 to $1.185 billion in net sales for the fiscal year ending October 31, 2005. The change in estimates has been put down to several factors, including the launch delay of Grand Theft Auto: Liberty City Stories for the PSP. Unexpected delays in final product testing and submission has meant the title will now ship in late November across European territories, bar the UK which should see the game released this week.
The company has also reduced its fiscal 2006 guidance, with consumer adoption of new hardware platforms cited as a cause. Take-Two is now estimating $1.35 to $1.45 billion in net sales for the fiscal year ending October 31, 2006.
“We continue to create compelling content, supported by strong creative and financial resources. For Fiscal 2006, we are well positioned for the opportunities to extend our brands across the large installed base of current generation platforms, as well as next generation hardware including the two previously announced Rockstar Games titles for the PSP, one of which is a new Grand Theft Auto title, ” said Paul Eibeler, President and Chief Executive Officer.
“We are pleased with the strong initial gamer and trade press response to our recently released Grand Theft Auto: Liberty City Stories for the PSP, as well as The Warriors and Sid Meier’s Civilization IV. “
