Illusion Softworks
Company
Documents about Illusion Softworks
Financial report1 page
Take-Two Interactive Form 10-Q: Q2 FY2009
Take-Two Interactive’s financial performance for the period ending July 31, 2008, reflects a significant turnaround, characterized by a shift from a $131.3 million loss in the prior year to $112.1 million in net income.
- Take-Two's international revenue grew significantly to 45.6% of total net revenue in Q3 2008, up from 22.1% in the same period of 2007, largely driven by the global release of Grand Theft Auto IV.
- The company recorded $1.185 million in business reorganization charges during the three and nine months ended July 31, 2008, related to the closure of two development studios as part of a 2007 restructuring plan.
- A major legal challenge involving allegations of 'copycat violence' linked to the company's games remains active, with plaintiffs seeking damages in excess of $600,000; an evidentiary hearing is scheduled for October 2008 to address the admissibility of expert testimony.
Take-Two InteractiveSep 2008
Financial report1 page
Take-Two Interactive Form 10-Q: Q1 FY2009
Take-Two Interactive experienced a significant financial turnaround during the first half of fiscal year 2008, transitioning from a $72.8 million loss in the prior-year period to a net income of $60.2 million.
- Take-Two Interactive reported a significant financial turnaround for the six months ended April 30, 2008, achieving a net income of $60.2 million compared to a net loss of $72.8 million in the same period of 2007.
- The release of Grand Theft Auto IV on April 29, 2008, was the primary driver of revenue growth, contributing to a $309.2 million increase in revenue from the Grand Theft Auto franchise for the six-month period.
- The Board of Directors unanimously rejected a hostile takeover bid from Electronic Arts, which had launched a tender offer on March 13, 2008, at $26.00 per share and subsequently extended and reduced the offer to $25.74 per share.
Take-Two InteractiveJun 2008
Financial report1 page
Take-Two Interactive Form 10-Q: Q4 Fiscal Year 2008
Take-Two Interactive’s financial and operational status during the first quarter of 2008 reflects a period of significant transition, marked by corporate restructuring, aggressive intellectual property acquisition, and substantial legal scrutiny.
- Take-Two amended its management agreement with ZelnickMedia in February 2008, extending the term to October 2012, increasing the annual management fee to $2.5 million, and establishing a performance-based annual bonus of up to $2.5 million.
- The company is under formal SEC investigation regarding historical stock option grants made from 1997 to 2007, having received a 'Wells' notice in August 2007 indicating the potential for civil monetary penalties.
- Take-Two entered an Amended Credit Agreement that limits the company's ability to incur debt, dispose of assets, or pay dividends, and requires an interest coverage ratio of more than one-to-one if liquidity falls below a 30-day average of $30 million.
Take-Two InteractiveMar 2008