Take-Two Results Dip

Officials from Take-Two Interactive have released the company’s first quarter fiscal 2004 financial results, for the three months ended January 31st 2004. Net sales during this period were $375.5 million, down from $411.0 million at the same time last year. Net income was $31.8 million, down from $51.5 million in 2003, with diluted net income per share of $0.70 compared to $1.22 last year. For the fiscal year ending October 31st the company is reiterating its net sales guidance of $1.22 billion and diluted net income per share guidance of $2.45. For the second quarter ending April 30th, the company is reiterating its guidance of $220 million in net sales, but reducing its diluted net income per share guidance to $0.33 from its previous guidance of $0.39. Source: Take-Two