14 DAY TRIAL // Video game publisher Take Two has stated that it has performed above expectations for the period which ended on October 31 and that it is looking forward to 2011 and to developing new gaming experiences for the Nintendo 3DS handheld and the motion tracking systems which Sony and Microsoft have recently released.
The company's fiscal year ended on October 31 and Take Two has managed to post a profit of 42.5 million dollars, which is far better than the 140 million loss it has managed during the previous fiscal year.
The fourth quarter was also very good, with revenue increasing and sales of its high profile title beating internal expectations.
Ben Feder, who is the chief executive officer of Take Two, has stated, “We have achieved our goal of profitability in a year without a new release of Grand Theft Auto.”
He added Take Two was “truly a new company, in a stronger position than at any time in our history.”
The biggest hit for the company has recently been the Western-based open-world action title Red Dead Redemption, which launched in May and managed to sell more than 8 million copies so far, while receiving a constant stream of downloadable content from the developers at Rockstar.
Take Two has also stated that the 2K Sports division has managed to be profitable on its own.
NBA 2K11 also performed well, benefiting from the cancellation of NBA Elite 11 from Electronic Arts.
Karl Slatoff, who is the chief operating officer at the company, has also said that the company is “excited about the 3DS. We’re looking at what it can do for the consumer market... and the same holds true for Kinect.”
Unfortunately, the investor call from Take Two did not offer any new information on the existence of Grand Theft Auto V, which analysts suggested would arrive at some point during 2012.