Take-Two Interactive has today announced its second quarter and six-month results for the 2005 fiscal year, which ended on April 30th 2005. Net sales for the quarter stood at $222.1 million, which represents a 45% increase on the previous year’s $153.4 million. The Q2 net loss for the company stood at $8.2 million, down from a $14.6 million net loss in Q2 2004. The six-month results saw the company achieve net sales of $724.5 million, up 37% from $528.9 million in the same period in 2004, with net income more than doubling to $47.1 million from $17.2 million.

The company attributes much of the results to the strong line-up of releases during the period such as Midnight Club 3: DUB Edition on PS2 and Xbox, Major League Baseball 2K5 for PS2 and Xbox, and the continued success of GTA: San Andreas on PlayStation 2. Anticipated success throughout the rest of the fiscal year has lead to an increased forecast of the end of year results from $1.30 billion to $1.35 billion. 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(R)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." Due to a shift in release dates of titles in Q3 and Q4, Take-Two have also reviewed their forecasts for the third quarter, ending July 31st 2005, from $205 million to $215 million in net sales. As well as the PC and Xbox release of Grand Theft Auto: San Andreas on June 7th in North America and June 10th in Europe, June 28th will see Midnight Club 3: DUB Edition arrive on the PSP in North America.

Q4 will see the highly anticipated debut of Grand Theft Auto: Liberty City Stories on PSP in North America, and also new Rockstar Games IP ‘Bully’, which is set for release on Xbox and PlayStation 2, and the videogame adaptation of the classic movie ‘The Warriors’, also on Xbox and PlayStation 2.

The other Take-Two labels also have a raft of titles that are set for release during Q3 and Q4 including Sid Meier’s Pirates! on Xbox, and the adaptation of Charlie and the Chocolate Factory across a range of formats from 2K Games in the third quarter. The fourth quarter will see Take-Two’s youngest label also release Call of Cthulhu: Dark Corners of the Earth for PlayStation 2 and Xbox, Shattered Union for Xbox and PC, Serious Sam 2 for Xbox and PC, Vietcong 2 on PC, and the North American releases of 24: The Game on PlayStation 2, and Conflict: Global Terror on multiple platforms. The company’s sports division, 2K Sports, will also release World Poker Tour on multiple formats, NBA 2K6 and NHL 2K6 on PlayStation 2 and Xbox, and Top Spin on PlayStation 2.

Take-Two budget label Global Star will also be releasing Codename: Kids Next Door and Dora the Explorer for the consoles during the fiscal year’s fourth quarter.

We’ll have more on Take-Two shortly...