Take-Two lowers projections as Bully slips to '06

Publisher Take-Two Interactive has announced its financial results for the third fiscal quarter, revealing losses broadly in line with the firm's projections, but also showing that key title Bully has dropped back to next year.

Expectations for the firm's results were low anyway, since the product recall of GTA San Andreas prompted by the Hot Coffee scandal forced it to drop its projections - but it's now dropped its FY05 projections once more following Bully's slippage.

The Q3 figures show revenue of $170 million, at the lower end of the predictions made by Wall Street analysts, and the firm made a $0.41 loss per share, somewhat larger than was expected by most commentators.

For the full year, management now expect to see $1.22 to $1.27 billion in revenues, down $40 million from previous projections, while EPS guidance has fallen below the dollar mark to $0.85 - $0.90, from a previous target of $1.05 to $1.12.

Bully, which is now slated for release in Q2 2006 - from February through April - isn't the only game to slip, with the Japanese release of GTA San Andreas also dropping back into the 2006 financial year.

Civilisation IV, however, has actually been pulled up the schedule and will ship in October, several weeks ahead of the originally planned date.

The company lifted its projections for 2006, but made few announcements about actual product in that timeframe - only hinting at further support for PSP, a sequel to a major Rockstar brand, and "extensions of the Grand Theft Auto franchise" on as yet unrevealed platforms.