Take-Two Interactive Software has today published their financial results for the fiscal year that ended on March 31, 2012.
In the report Take-Two revealed losses of $107.7 million USD, a stark contrast to the $53.8 million profit made in the previous fiscal year.
The company reported the loss despite releasing some big hitters over the course of the year. L.A. Noire and Red Dead Redemption were amongst the companies biggest earners.
Digital sales represented 13% of Take-Two's net revenue, up 4% from last year.
The publisher are expecting big things from the current financial year. With Max Payne 3 already shifting more than 3 million copies, and with Bioshock Infinite, Xcom: Enemy Unknown, Spec Ops: The Line and Borderlands 2 all set for release in the next few months, next year's financials may look slightly rosier than this years.
"Fiscal 2012 was a year of creative, operational and strategic achievement by our Company," said Strauss Zelnick, Chairman and CEO of Take-Two. "We delivered groundbreaking titles, including L.A. Noire and NBA 2K12, which set new standards for excellence; grew our revenue from digitally delivered content and mobile offerings; made substantial progress on our online gaming initiatives; and bolstered our already strong liquidity through a convertible notes offering."
"While our financial results were disappointing, the decisions we made position Take-Two for growth and profitability both this year and over the long-term."
Zelnick then added; "Fiscal 2013 kicked off with the successful launch of Max Payne 3, which received outstanding reviews and promises to be another hit for Rockstar Games. We have a fantastic lineup of upcoming releases for the balance of the year and the strongest development pipeline in the Company's history."
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