TakeTwo Interactive Software Inc. (TTWO, Financial) filed Quarterly Report for the period ended 2009-04-30.
Take-Two Interactive Software Inc. is a leading worldwide developer publisher and distributor of interactive software games. The company's software operates on multimedia personal computers and video game console platforms. They are one of the largest distributors of interactive software games in the United States and one of the top publishers of interactive software games in Europe. TakeTwo Interactive Software Inc. has a market cap of $685.2 million; its shares were traded at around $8.53 with and P/S ratio of 0.5.
Net revenue on current generation platforms accounted for approximately 66.7% of our total net publishing revenue in the second quarter of 2009 compared to 88.9% for the same period in 2008. The decrease is primarily due to the release of Grand Theft Auto IV in April 2008 for the PS3 and Xbox 360. Nintendo DS sales increased $21.4 million (904.2%) due primarily to the March 2009 release of Grand Theft Auto: Chinatown Wars. Sales on the prior generation platforms continued to decline primarily due to a decrease of $14.3 million (52.4%) on PS2, related to decreased sales of prior versions of Grand Theft Auto and various sports titles. We expect volume on prior generation platforms to continue to decline as a result of the continuing hardware transition to the current generation hardware platforms and have therefore reduced the number of titles in development for these older platforms. We have also continued to reduce pricing on software titles for the PS2 as the current generation hardware installed base grows.
Publishing revenue earned outside of North America accounted for approximately $54.7 million (31.4%) in the second quarter of 2009 compared to $188.2 million (38.9%) in the 2008 period. The year-over-year decrease was primarily attributable to the global release of Grand Theft Auto IV in the second quarter of 2008. Foreign exchange rates reduced revenue and gross profit by approximately $12.8 million and $0.7 million, respectively, in the second quarter of 2009.
Read the The complete ReportTTWO is in the portfolios of Arnold Schneider of Schneider Capital Management, Carl Icahn of Icahn Capital Management LP.
Take-Two Interactive Software Inc. is a leading worldwide developer publisher and distributor of interactive software games. The company's software operates on multimedia personal computers and video game console platforms. They are one of the largest distributors of interactive software games in the United States and one of the top publishers of interactive software games in Europe. TakeTwo Interactive Software Inc. has a market cap of $685.2 million; its shares were traded at around $8.53 with and P/S ratio of 0.5.
Highlight of Business Operations:
Net revenue decreased $309.3 million for the three months ended April 30, 2009 as compared to the same period in 2008, primarily due to the release of Grand Theft Auto IV for the PS3 and Xbox 360 in April 2008, which surpassed all-time sales records for the launch of an entertainment property. Sales of our Grand Theft Auto franchise decreased $288.1 million for the three months ended April 30, 2009 as compared to the same period in 2008. Sales of Grand Theft Auto IV decreased significantly and was partially offset by the second quarter 2009 releases of Grand Theft Auto IV: The Lost and Damned downloadable episode and Grand Theft Auto: Chinatown Wars for the Nintendo DS. In addition, net revenue from our Bully franchise, including the release of Bully: Scholarship Edition in the second quarter of 2008, decreased $22.0 million for the three months ended April 30, 2009 as compared to the same period in 2008.Net revenue on current generation platforms accounted for approximately 66.7% of our total net publishing revenue in the second quarter of 2009 compared to 88.9% for the same period in 2008. The decrease is primarily due to the release of Grand Theft Auto IV in April 2008 for the PS3 and Xbox 360. Nintendo DS sales increased $21.4 million (904.2%) due primarily to the March 2009 release of Grand Theft Auto: Chinatown Wars. Sales on the prior generation platforms continued to decline primarily due to a decrease of $14.3 million (52.4%) on PS2, related to decreased sales of prior versions of Grand Theft Auto and various sports titles. We expect volume on prior generation platforms to continue to decline as a result of the continuing hardware transition to the current generation hardware platforms and have therefore reduced the number of titles in development for these older platforms. We have also continued to reduce pricing on software titles for the PS2 as the current generation hardware installed base grows.
Publishing revenue earned outside of North America accounted for approximately $54.7 million (31.4%) in the second quarter of 2009 compared to $188.2 million (38.9%) in the 2008 period. The year-over-year decrease was primarily attributable to the global release of Grand Theft Auto IV in the second quarter of 2008. Foreign exchange rates reduced revenue and gross profit by approximately $12.8 million and $0.7 million, respectively, in the second quarter of 2009.
Read the The complete ReportTTWO is in the portfolios of Arnold Schneider of Schneider Capital Management, Carl Icahn of Icahn Capital Management LP.
