Take Two Reveals New GTA Titles, Financials
Liberty City Stories is PS2-bound and Xbox 360 gets a brand new game.
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January 5, 2006 - A financial update from Take Two
Games not only announced preliminary fiscal 2005 results today, but --
as is often the case in such reports -- revealed some tasty new titles
and game delays for the year ahead.
Perhaps most significant to gamers is the revelation that Grand Theft
Auto: Liberty City Stories will come to PlayStation 2 after enjoying
its initial life on the PSP. The PS2 version is expected in the
company's second quarter, which covers February through April.
Rockstar's hardly neglecting Sony's portable system, of course -- the
company confirmed a second GTA game is coming to PSP, along with another new title for the platform.
Along with thug action, Rockstar will create an Xbox 360 game based on
a new brand, as well as a sequel to an existing Rockstar property --
for as-yet-unannounced platforms. Players can also expect to see NBA
2K7 on multiple systems sometime in the near future, and all-new Family
Feud game as well.
With the good news come a few delays. College Hoops 2K6 for X360 and
Top Spin 2 for X360, Nintendo DS, and Game Boy Advance will now arrive
in the company's second quarter.
Citing continuing uncertainty as the game industry transitions to a new
console generation, Take Two is taking a humble stance in its financial
outlook. The company now expects $230 to $250 million in net sales for
its first 2006 quarter. Take Two is not offering guidance for all of
2006, but now expects revenue and earnings "significantly below"
previous guidance and analyst estimates.
Take Two announced preliminary and unaudited financial results of $1.2
billion in net sales for fiscal 2005, ended October 31, 2005. The
company is reporting a preliminary $308 million in net sales for Q4
2005.
"Clearly, the holiday season did not live up to anyone's expectations,"
commented president and CEO Paul Eibeler. "While it is difficult to
assess the impact of the hardware transition on our industry in 2006,
we remain confident in the resilience and future prospects of Take-Two
and the global video game business. We have assembled some of the
industry's best development capabilities supported by strong financial
resources, and we expect to capture market share in an expanding Xbox
360 installed base and from the anticipated introduction of the
PlayStation 3 later this year."