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Take-Two Interactive Annual Report: FY 2008

During fiscal year 2008, Take-Two Interactive achieved a significant financial turnaround, shifting from a net loss of $138.4 million in 2007 to a net income of $97.1 million.

• Take-Two's fiscal year 2008 revenue was significantly bolstered by the Grand Theft Auto franchise, which generated $581.4 million more in revenue compared to the prior period.
• The company is shifting toward digital distribution, highlighted by an exclusive agreement with Microsoft to provide downloadable content for Grand Theft Auto IV via Xbox Live.
• Management expects price pressure on prior-generation console software as the industry transitions to current-generation platforms, leading to potential inventory obsolescence and reduced margins.