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Take-Two has announced financial results for its second quarter which ended April 30 2005. Net sales are up 45% over the same period of the 2004 fiscal year, while net loss is down to $8.2 million compared to $14.6 million in 2004.
For the six month period ending April 30 2005, net sales increased by 37% and net income more than doubled to $47.1 million. The second quarter sales have been attributed to the release of Midnight Club 3: DUB Edition for PlayStation 2 and Xbox, Major League Baseball 2K5 for PlayStation 2 and Xbox, and continued sales of Grand Theft Auto: San Andreas on the PlayStation 2.
A number of games have also bee confirmed for quarter 4 releases. These include Grand Theft Auto: Liberty Stories for the PSP, which is confirmed to have the freedom and production values of other GTA titles. The Warriors and Bully for the PlayStation 2 and Xbox, NBA 2K6, Serious Sam 2 and more are also due in Q4 2005.
Paul Eibeler, President and Chief Executive Officer, stated, “We were pleased with the performance of our second quarter releases, as well as the continued success of Grand Theft Auto: San Andreas. Additionally, having just returned from E3, we are excited about our future. Rockstar, 2K Games, 2K Sports and Global Star showcased a diverse assortment of over 25 games across all genres, platforms and demographic appeal to much critical and consumer acclaim.”
Mr. Eibeler continued, “The powerful capabilities and functionality of next generation hardware demonstrated at E3 will enable us to further develop our content and enrich the game playing experience. With eight titles already announced for Xbox 360 and more in development for Xbox 360, PlayStation 3 and the PSP, along with our pipeline of products for the large installed base of current generation hardware, we are well on our way to sustaining a leadership position as we enter the next cycle.”
Take-Two are emerging as one of the strongest forces in the videogame industry and they look to have an extremely strong line up of titles for the rest of the year.
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