Shares of video game maker Take-Two Interactive (TTWO) are up 3 cents at $16.13 down 35 cents, or 2%, at $15.75, after the stock was briefly halted in advance of its fiscal Q4 report, which easily beat estimates.
The outlook for this quarter and the year, however, fell short of expectations. The company’s conference call with analysts started at 4:30 pm, Eastern.
Q4 revenue was down 22%, year over year, at $182.2 million, beating the average $148 million estimate. A net loss of 18 cents per share was far bettern than the 39-cent loss analysts had been expecting.
Results were boosted by titles such as NBA 2K11, Top Spin 4, and Major League Baseball 2K11, the company said.
For the current quarter, the company projected revenue of $325 million to $375 million, and profit of breakeven to 10 cents per share. Analysts had been modeling $298.7 million and 14 cents per share.
Reviewing the company’s lineup, some titles have slipped in their release schedule as described back in February. For example, Duke Nukem Forever, originally scheduled for May 3rd, was pushed out (of course!) to June 10th, while Spec Ops: The Line, originally scheduled for “fiscal year 2012,” was pushed out to “first half fiscal 2013.”
For the full year ending in March of 2012, the company projects $1 billion to $1.1 billion in revenue, and EPS of 10 cents to 35 cents. That is below the $1.3 billion and $1.12 per share analysts have been modeling.
Take-Two said three key members of its Rockstart Games development team, Sam Houser, Dan Houser, and Leslie Benzies, had renewed their long-term employment agreements with Take-Two.
Article courtesy of Tech Trader Daily