The results – for the first quarter of its fiscal year 2013 – showed a net revenue of $226.1 million, as compared to $334.4 million for the first quarter of fiscal 2012.
GAAP loss from continuing operations was $110.8 million, or $1.30 per diluted share, as compared to $8.6 million, or $0.11 per diluted share, for the year-ago period.
The press release says the strongest contributors to net revenue were the release of Max Payne 3, catalog sales led by the Grand Theft Auto franchise and Red Dead Redemption, the release of Spec Ops: The Line, and continuing sales of NBA 2K12.
Catalog sales grew 50% year-over-year and accounted for 26% of net revenue, says the report. Revenue from digitally delivered content grew 33% year-over-year and accounted for 14% of net revenue, driven by offerings for the Sid Meier’s Civilization franchise, the Grand Theft Auto franchise, the Max Payne franchise, NBA 2K12, and Red Dead Redemption.
“Although our first quarter results were below expectations due to lower-than-anticipated sales of Spec Ops: The Line and Max Payne 3, the outlook for our slate of upcoming releases is stronger than ever,” said Strauss Zelnick, Chairman and CEO of Take-Two.
“Our long-term strategy is to continue to grow our revenues and reduce the volatility of our results by complementing our core console business with digitally delivered content for mobile and online platforms,” added Zelnick.