US$ 185M down the drain for Take Two

American publisher, developer, and distributor Take Two Interactive has released the figures for their annual financial report, revealing that they suffered an annual loss of US$ 185 million.

According to the report, it was in the fourth quarter of 2006 that they took the hit, losing about US$ 14 million, as compared to the US$ 19 million they raked in the year before last. To explain why this happened, they are pointing to the console transition as one of the factors why the sudden drop in sales occurred. Their figures dropped from US$ 1.2 billion to US$ 1 billion.

And this ain’t the only reason. Admittedly, they were also affected by the investigation in stock practices, for which they had to shell out US$ 5.5 million in bill.

Take Two’s subsidiary Rockstar Games is famous for the GTA franchise.

Via GamesIndustry

American publisher, developer, and distributor Take Two Interactive has released the figures for their annual financial report, revealing that they suffered an annual loss of US$ 185 million.

According to the report, it was in the fourth quarter of 2006 that they took the hit, losing about US$ 14 million, as compared to the US$ 19 million they raked in the year before last. To explain why this happened, they are pointing to the console transition as one of the factors why the sudden drop in sales occurred. Their figures dropped from US$ 1.2 billion to US$ 1 billion.

And this ain’t the only reason. Admittedly, they were also affected by the investigation in stock practices, for which they had to shell out US$ 5.5 million in bill.

Take Two’s subsidiary Rockstar Games is famous for the GTA franchise.

Via GamesIndustry