01—Abstract
Summary
Summary of the 10-Q/A filed January 9, 2015. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment (10-Q/A) to Take-Two Interactive Software, Inc.'s (TTWO) Quarterly Report for the period ending September 30, 2014.
The amendment's primary purpose is to re-file Exhibit 10.1, an Amendment to the Xbox 360 Publisher License Agreement with Microsoft Corporation, to address confidential treatment redactions requested by the SEC staff. No other financial or operational information from the original 10-Q report has been updated or modified by this amendment.
02—Key points
Key Highlights
- This filing is an amendment, specifically re-filing an exhibit, and does not contain new financial or operational data for the period ended September 30, 2014.
- The core purpose of the amendment is to revise redactions on Exhibit 10.1, an Amendment to an Xbox 360 Publisher License Agreement with Microsoft Corporation, in response to SEC staff comments.
- The Company is a large accelerated filer, indicating a significant market capitalization and regular reporting history.
- The amendment includes new certifications from the CEO and CFO, as required by SEC rules for amendments.
- No financial statements are being filed with this amendment, thus 18 U.S.C. 1350 certifications are not included.
- The amendment is an exhibit-only filing and should be read in conjunction with the original 10-Q report filed on October 30, 2014.
03—One dollar
Follow one dollar
For each $1.00 of revenue in Q2 FY2015, Take Two Interactive Software Inc lost $0.33.
- Revenue$126.3M100.0%
- Cost of revenue−$52.0M41.2%
- Gross profit$74.3M58.8%
- Operating costs−$122.8M97.2%
- Operating income−$48.5M38.4%
- Interest, other & tax$7.1M5.7%
- Net income−$41.4M32.8%
04—Financials
Financial Highlights
Figures from 10-Q/AQ2 FY2015filed January 9, 2015Financial Statements
Q2 FY2015 against Q2 FY2014
| Line item | Q2 FY2015Q2 FY2014 | Change |
|---|---|---|
| Revenue | $126.28M$148.82M | −15.2% |
| Cost of Revenue | $52.02M$92.46M | −43.7% |
| Gross Profit | $74.26M$56.36M | +31.8% |
| Operating Expenses | $122.77M$174.25M | −29.5% |
| Operating Income | -$48.51M-$117.89M | +58.8% |
| Net Income | -$41.37M-$124.12M | +66.7% |
| EPS (Basic) | $-0.51$-1.40 | +63.6% |
| EPS (Diluted) | $-0.51$-1.40 | +63.6% |
| Shares Outstanding (Basic) | 80.36M88.82M | −9.5% |
| Shares Outstanding (Diluted) | 80.36M— | — |
05—Questions
Frequently Asked Questions
What is the main reason for this filing?
This filing is an amendment (10-Q/A) to correct and re-file Exhibit 10.1, an Amendment to the Xbox 360 Publisher License Agreement with Microsoft Corporation. This revision addresses specific comments from the SEC staff regarding the confidential treatment of certain information within that exhibit.
Does this amendment provide new financial performance information for TTWO?
No, this amendment is an exhibit-only filing. It does not update or modify any of the financial or other information contained in the original 10-Q report filed on October 30, 2014. Investors should refer to the original report for financial performance details.
What is Exhibit 10.1 that is being amended?
Exhibit 10.1 is an Amendment to the Xbox 360 Publisher License Agreement between Microsoft Corporation and Take-Two Interactive Software, Inc., dated September 30, 2014.
Are there any new certifications included with this filing?
Yes, as required by Rule 12b-15 under the Securities Exchange Act of 1934, new certifications by Take-Two's principal executive officer and principal financial officer are filed as exhibits to this amendment.
06—Continue