Take-Two Interactive (TTWO) Lowers Guidance on Performance of MLB Titles
TTWO Hot Sheet
EPS Growth %: -233.3%Financial Fact:
Cost of goods sold: 116.47M
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Take-Two Interactive Software, Inc. (NASDAQ: TTWO) anticipates that its results for the fourth quarter and fiscal year 2009 will be below its prior guidance due to several factors, the largest being the performance of its Major League Baseball titles in the fourth quarter, which reduced earnings by approximately $0.09 per share, along with an impairment of capitalized software based on sales estimates for its MLB titles in fiscal 2010, representing approximately $0.05 per share. The Company also incurred inventory write downs in its distribution business primarily related to prior generation software, representing approximately $0.07 per share, and realized lower than expected initial performance of several of its key holiday releases.
Take-Two sees Q4 revs of $325-$350 million, versus the consensus of $371 million. Sees Non-GAAP EPS of $0.05-$0.10, versus the consensus of $0.33.
Sees FY revs of $950-$975 million, versus the consensus of $995.1 million. Sees EPS of $(1.10) to $(1.15), versus the consensus of $(0.85).
The Company expects to report a non-GAAP net loss per share for fiscal 2010 in the range of $0.40 to $0.60 on $1.0 billion to $1.2 billion in revenue. The consensus is $0.64 and $1.24 billion, respectively.
Take-Two's preliminary forecast for the fiscal first quarter is for a non-GAAP net loss per share in the range of $(0.40) to $(0.50) on $210 million to $260 million in revenue. The consensus is $(0.26) and $244.2 million, respectively.
UPDATE: Click here to see some highlights from Take-Two's conference call on the guidance.
Take-Two sees Q4 revs of $325-$350 million, versus the consensus of $371 million. Sees Non-GAAP EPS of $0.05-$0.10, versus the consensus of $0.33.
Sees FY revs of $950-$975 million, versus the consensus of $995.1 million. Sees EPS of $(1.10) to $(1.15), versus the consensus of $(0.85).
The Company expects to report a non-GAAP net loss per share for fiscal 2010 in the range of $0.40 to $0.60 on $1.0 billion to $1.2 billion in revenue. The consensus is $0.64 and $1.24 billion, respectively.
Take-Two's preliminary forecast for the fiscal first quarter is for a non-GAAP net loss per share in the range of $(0.40) to $(0.50) on $210 million to $260 million in revenue. The consensus is $(0.26) and $244.2 million, respectively.
UPDATE: Click here to see some highlights from Take-Two's conference call on the guidance.
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