Mar 8, 2006 1:00 AM

Take Two Reports $29 Million Q1 Loss

In case you’re wondering why, exactly, Take Two is porting the PSP version of Grand Theft Auto to PS2, this might be an indication. Next-Gen reports that the company has announced a $29.1 million net loss for the first quarter of FY 2006. Take-Two made sure to note the “challenging comparison” to the same quarter […]

In case you're wondering why, exactly, Take Two is porting the PSP version of Grand Theft Auto to PS2, this might be an indication. Next-Gen reports that the company has announced a $29.1 million net loss for the first quarter of FY 2006.

Take-Two made sure to note the "challenging comparison" to the same quarter a year prior, which included holiday sales of Grand Theft Auto: San Andreas. Also noted was the console transitional period and the "continued retail weakness for video game software and lower retail pricing during the holiday selling season in both North America and Europe."

The company notes that -- what else -- a new Grand Theft Auto will be on the way, for PSP, within this fiscal year.

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