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Top Performer for Thursday – Zacks #1 Rank Top Performers

Source: http://www.zacks.com/commentary/10429/Top+Performer+for+Thursday++-+Zacks+%231+Rank+Top+Performers
Posted on Thursday, March 26th, 2009 | In Stocks to Watch

Contributed by: James Giaquinto (http://www.zacks.com/) -

Earnings estimates for Take-Two Interactive Software, Inc. (TTWO) have moved sharply higher over the past month. Expectations for this fiscal year, ending October 2009, advanced to a profit of a penny per share from a loss of 42 cents. Meanwhile, estimates for next fiscal year, ending October 2010, are up 140%.

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The video game company, which releases the very popular Grand Theft Auto series, made the Zacks #1 Rank Top Performers List for Thursday with shares that have gained approximately 7%.

Earlier this month, TTWO announced that fiscal first-quarter net revenue increased almost 7% to $256.8 million from $240.4 million. The gain reflected solid sales from Grand Theft Auto IV, Carnival Games, NBA 2K9 and Midnight Club: Los Angeles.

TTWO reported a loss per share for the quarter that was wider than a year earlier, but narrower than the consensus.

In order to stay competitive during these tough times, video game companies like TTWO need to have a strong pipeline of fun and innovative products. Recently, one of the company’s publishing labels, Rockstar Games, announced that Max Payne 3 is in development and scheduled for winter 2009.

Also of late, a downloadable episode of Grand Theft Auto IV was released.

TTWO said it is in a good position to offer quality and value to consumers, which the company believes are necessary to attract a broad audience during this economic environment.

TTWO is the only company from its industry on the Zacks #1 Rank List for today, which includes 203 stocks.

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