If
the
subject report could not be filed without unreasonable effort or expense and
the
registrant seeks relief pursuant to Rule 12b-25(b), the following should be
completed. (Check box if appropriate)
(a)
The
reasons described in reasonable detail in Part III of this form could
not
be eliminated without unreasonable effort or expense;
¨
(b)
The
subject annual report, semi-annual report, transition report on Form
10-K,
Form 20-F, 11-K, Form N-SAR or Form N-CSR, or portion thereof, will
be
filed on or before the fifteenth calendar day following the prescribed
due
date; or the subject quarterly report or transition report on Form
10-Q or
subject distribution report on Form 10-D, or portion thereof will
be filed
on or before the fifth calendar day following the prescribed due
date; and
(c)
The
accountant's statement or other exhibit required by Rule 12b-25(c)
has
been attached if applicable.
PART
III -NARRATIVE
State
below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D,
N-SAR, N-CSR or the transition report or portion thereof could not be filed
within the prescribed time period. (Attach extra sheets if needed.)
As
the
registrant has previously disclosed, it is continuing its previously announced
internal investigation of its stock option grants, which is being conducted
by a
Special Committee consisting of independent board members who have retained
independent legal counsel and accountants to assist in the review. As a result,
the registrant will not be able to file its Form 10-Q for the fiscal third
quarter ended July 31, 2006 until the Special Committee concludes its
investigation and the Company and its independent auditors complete any related
accounting review.
PART
IV - OTHER INFORMATION
(1) Name
and
telephone number of person to contact in regard to this notification
Karl
H. Winters
646
536-2842
(Name)
(Area
Code)
(Telephone
Number)
(2) Have
all
other periodic reports required under Section 13 or 15(d) of the Securities
Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during
the preceding 12 months or for such shorter period that the registrant was
required to file such report(s) been filed? If answer is no, identify
report(s).
x
Yes ¨
No
(3) Is
it
anticipated that any significant change in results of operations from the
corresponding period for the last fiscal year will be reflected by the earnings
statements to be included in the subject report or portion thereof?
x
Yes ¨
No
If
so:
attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.
Take-Two
Interactive Software, Inc.
(Name
of Registrant as Specified in Charter)
has
caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Instruction:
The form may be signed by an executive officer of the registrant or by any
other
duly authorized representative. The name and title of the person signing the
form shall be typed or printed beneath the signature. If the statement is signed
on behalf of the registrant by an authorized representative (other than an
executive officer), evidence of the representative's authority to sign on behalf
of the registrant shall be filed with the form.
ATTENTION
Intentional
misstatements or omissions of fact constitute Federal criminal violations (See
18 U.S.C. 1001).
As
the
registrant previously disclosed in its August 31, 2006press release, its
preliminary net revenues for the third quarter were approximately $240 million
compared to $169.9 million for the third quarter of fiscal 2005. Publishing
revenues represented approximately 80% of total net revenues, with distribution
revenues accounting for the remaining 20%, compared to 75% publishing and 25%
distribution in the comparable period last year.
Preliminary
net revenues for the nine months ended July 31, 2006 were approximately $770
million compared to $894.4 million for the same period a year ago. Publishing
revenues represented approximately 72% of total net revenues for the first
nine
months, with distribution revenues accounting for the remaining 28%, compared
to
70% publishing and 30% distribution in the comparable period last year.
The
registrant’s cash position at July 31, 2006 was approximately $178 million
compared to $141 million at April 30, 2006. The increase is primarily due to
approximately $51 million of cash received during the quarter from agreements
for online content, in-game advertising and licensing of intellectual property,
partially offset by changes in working capital.
The
registrant’s third quarter 2006 results were led by sales of Rockstar Games’
Grand Theft Auto: Liberty City Stories for the PlayStation®2 computer
entertainment system and PSP® (PlayStation®Portable) system; Rockstar Games
presents Table Tennis for the Xbox 360™ video game and entertainment system from
Microsoft; Grand Theft Auto: San Andreas for PlayStation 2; and Midnight Club
3:
DUB Edition REMIX for PlayStation 2. 2K’s largest contributors to the quarter’s
revenues were Prey for Xbox 360 and PC; The Da Vinci Code on multiple platforms;
and The Elder Scrolls® IV: Oblivion™ for Xbox 360 and PC, a title co-published
by 2K and Bethesda Softworks. Late in the third quarter 2K also released Sid
Meier’s Civilization IV: Warlords, the first expansion pack for Sid Meier’s
Civilization IV, and CivCity: Rome, both for PC.
Revenues
at the registrant’s Jack of All Games distribution business increased year over
year primarily due to higher sales of hardware products and peripherals, led
by
the introduction and increased availability of Xbox 360 hardware.
Dates Referenced Herein and Documents Incorporated by Reference
