03/10/09
Video game publisher Take-Two Interactive Software Inc. posted a larger loss for its fiscal first quarter Tuesday as higher marketing, development and legal costs outweighed stronger sales, but results topped Wall Street expectations.The company's outlook for the second quarter was weaker, but Take-Two still reiterated its guidance for fiscal 2009.For the three months ended Jan. 31, the company behind the popular "Grand Theft Auto" series posted a loss of $50.4 million, or 66 cents per share, compared with a loss of $38 million, or 52 cents per share, in the same period a year earlier.Excluding stock options costs, reorganization expenses and other items, the company's loss totaled 52 cents per share in the latest quarter.Revenue jumped 7 percent to $256.8 million from $240.4 million, led by "Grand Theft Auto IV" and "Carnival Games," among other titles.
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