Financial reports usually don’t make news at Cheat Code Central. But then there is the financial report of Take-Two Interactive, a company that has been riddled by controversy this year with the discovery of the racy Hot Coffee in the already questionable Grand Theft Auto: San Andreas. After being forced to pull the game from shelves (and getting banned in Australia), Take-Two had to answer to the Securities and Exchange Commission (SEC) over accounting issues.
As expected, the company has announced revisions in their revenue and earnings guidance for the fiscal year of 2005-2006. We thought their statement about the issue may be of interest to GTA gamers.
"It is disappointing to reduce our financial guidance. However, we remain optimistic about Take-Two’s overall prospects and the favorable dynamics of our industry," Paul Eibeler, President and CEO of Take-Two, commented. "We continue to create compelling content, supported by strong creative and financial resources. For Fiscal 2006, we are well positioned for the opportunities to extend our brands across the large installed base of current generation platforms as well as next generation hardware including the two previously ahnounced Rockstar Games titles for the PSP, one of which is a new Grand Theft Auto title. We are pleased with the strong initial gamer and trade press response to our recently released Grand Theft Auto: Liberty City Stories for the PSP, as well as The Warriors and Sid Meier’s Civilization IV."
Wait a second Paul, did you say new Grand Theft Auto title for the PSP? We are hoping this comment does not refer to the delay of GTA: LCS in Europe. Keep your eyes and ears open for more information about this little tidbit.
We would also like to mention that The Elder Scrolls IV: Oblivion for the PC and Xbox 360 has been pushed back to release in February of 2006 at the earliest.