2K Sports 2003 Annual Report Download - page 5

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As a result of these factors, Take-Two is in
the strongest financial and operational
position in its history. For fiscal 2003,
Take-Two’s revenues exceeded $1 billion,
with net income of $98 million – a nearly
40 percent increase over fiscal 2002. The
Company ended the fiscal year with $183
million in cash, a compelling achieve-
ment, resulting from the tireless efforts of
Take-Two’s global workforce. From our
500-plus development team to our
employees working to fulfill customer
orders at our distribution facilities, Take-
Two generated revenues of about
$900,000 per employee in 2003.
Take-Two’s distinctive strength lies in our
ability to create outstanding products that
set – and then exceed – industry stan-
dards. Rockstar’s 2002 holiday release of
Grand Theft Auto: Vice City is still the
measure by which all other games are
judged. Based on a comparison of avail-
able industry estimates – March 2004
NPD Funworld data for domestic video
games sales estimates and March 2004 Variety
estimates for gross domestic box office pro-
ceeds – Grand Theft Auto: Vice City would
rank as the 22nd top grossing movie of all
time, with Grand Theft Auto III ranking
27th on this list. Grand Theft Auto: Vice
City and Grand Theft Auto III have sold
more than 22 million copies globally, with
sales of over 30 million units for the entire
Grand Theft Auto franchise. Rockstar
recently announced the next addition to
the Grand Theft Auto dynasty, Grand
Theft Auto: San Andreas, scheduled for
an October 2004 launch.
3
Gathering
Gathering publishes premium and mid-priced
products on PC, console and handheld plat-
forms. Gathering’s critically acclaimed franchis-
es include Mafia, Railroad Tycoon, Hidden &
Dangerous, Tropico and Stronghold. Based in
New York City, Gathering works with internally
owned development studios as well as top
independent development studios worldwide.