Take-Two posts US$ 60 million sales drop, gears for restructuring |
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Take-Two said that their quarterly losses reflected improved margins on lower royalty costs, stronger margins on its sports products and a realization of cost benefits from the studio's closings last year. Gamasutra also reports that the company attributes some of the losses on reorganization and administrative fees associated with stock option grant investigations.
Take-Two has announced, however, that they are considering a new restructuring plan, with Lainie Goldstein taking the seat of the company's chief financial officer after serving as interim for the same position. The restructuring plan was designed to enhance the organizational structure's efficiency, make room for a "financially disciplined" product development process, and increase the company's productivity and cost-effectiveness.
International operations for sales and marketing will be restructured in ties with "business discipline" and not by location, while the company's label and studio divisions will report to their respective corporate departments. By doing so, they expect to reduce overhead by US$ 25 million by the end of fiscal year 2008.
Take-Two has also announced its quarterly output for Q3, stating titles such as All-Pro Football 2k8, Fantastic 4: Rise of the Silver Surfer, Manhunt 2, The BIGS and The Darkness. For Q4, they have outlined an output of BioShock, Carnival Games, Grand Theft Auto IV, NBA 2k8 and NHL 2k8.
Via Gamasutra
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