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Take 2 gets slap on wrists

Recalculates two years worth of financial results after SEC probe

Take 2 has belatedly announced its financial results for the three months to October 31st following an investigation by the Securities & Exchange Commission in America. Trading in the company's shares has been suspended since late January, and on Tuesday the publisher admitted that it had overstated revenues for their fiscal year 2000 to the tune of nearly $20m. Yesterday it added that it was appointing another new Chief Financial Officer, and that departing CFO Albert Pastino (who only joined the company two months ago) would be working as a consultant on the reauditing. The results themselves are a little disappointing, with sales rising 14% to $123m but the previous year's profit of $8.7m turning into a $5.3m loss this time round. The good news is that the next set of results (covering the all-important festive season from November to the end of January) should show a vast improvement thanks to the chart busting antics of Grand Theft Auto 3 and the console ports of Max Payne.

Max Payne, grimacing. Just for a change.

Source - Reuters

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