Take 2 Losses Shrink
- Scribbled on March 12th, 2007 by Jonah Falcon
- Filed in Industry News, Press Release
Part of the reason for the earlier reported Take 2 takeover attempt were the losses being incurred by the company, as well as the Hot Coffee settlement. Well, according to Reuters, the company is still losing money, but not as much.
Its net loss for the fiscal first quarter ended January 31 was $21.5 million, or 30 cents per share, compared with a loss of $29.1 million, or 41 cents per share, a year earlier.
The latest results include $6.4 million for legal and professional fees related to an investigation of stock option grants, $6.1 million for valuation allowances of deferred tax assets, and $2.2 million in stock-based compensation charges.
Revenue rose to $277.3 million from $265 million.
Analysts on average had forecast a loss per share, before special items, of 33 cents on revenue of $269.7 million, according to Reuters Estimates.
We’ll keep an eye on this news as it breaks.
Leave a Comment (NOTE: Comments are moderated)