Take-Two (TTWO) hit the numbers that it had given earlier, and the shares staged a relief rally.
Net revenue for the third quarter was $206.4 million, compared to $241.2 million for the same period of fiscal 2006. Net loss for the third quarter was $58.5 million or $0.81 per share, compared to a net loss of $91.4 million or $1.29 per share in the third quarter of fiscal 2006. As compared with the year-ago period, the 2007 third quarter results reflected a decrease in product costs, software development costs, royalties and operating expenses.
The company provided strong guidance for the year ending October 31, 2007. Revenue should be in the range of $1.1 to $1.4 billion with EPS of $.80 to $1.00.
Shares moved up 4.7% to $16.49 after hours.
Douglas A. McIntyre