Take-Two Interactive Software (TTWO) FY2014 results: revenue $2.4 billion, up 93.5% on the year
Take-Two Interactive Software, Inc. (TTWO) reported revenue of $2.4 billion for fiscal 2014, the year ended 31 March 2014, up 93.5% on the year before. Net income was $362 million, and diluted earnings per share $3.20. The figures are the company's own, from the 10-K it filed with the SEC on 14 May 2014.
Revenue
$2.4 billion
+93.5% on the year
FY2010FY2014
Operating margin
17.7%
0.4% a year earlier
FY2010FY2014
Net income
$362 million
FY2010FY2014
Diluted EPS
$3.20
FY2010FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,351
1,214
826
+93.5%
Cost of revenue
1,414
716
529
+97.6%
Gross profit
936
499
297
+87.8%
Gross margin
39.8%
41.1%
36.0%
Operating income
415
5.2
-84.3
+7,826.2%
Operating margin
17.7%
0.4%
-10.2%
Pre-tax income
376
-26.1
-104
Income tax
14.5
5.0
3.9
+186.3%
Effective tax rate
3.8%
n/a
n/a
Net income
362
-29.5
-109
Net margin
15.4%
-2.4%
-13.2%
Diluted EPS
$3.20
-$0.34
-$1.31
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
700
-4.6
-85.0
Capital expenditure
29.8
16.8
10.8
+77.2%
Free cash flow
670
-21.4
-95.8
Free cash flow margin
28.5%
-1.8%
-11.6%
Cash from investing
-30.8
-16.8
-14.2
Cash from financing
-134
n/a
243
Depreciation and amortisation
13.4
10.6
12.1
+25.6%
Share-based compensation
78.1
35.8
33.5
+118.4%
Buybacks
277
n/a
n/a
Diluted shares, weighted
95m
86m
83m
+11.4%
Shares outstanding at period end
89m
94m
90m
-5.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
802
588
596
+36.4%
Debt
538
388
388
+38.5%
Other liabilities
460
302
166
+52.5%
Total liabilities and equity
1,800
1,278
1,149
+40.8%
Fixed assets
42.6
25.4
18.9
+67.9%
Goodwill
227
226
228
+0.3%
Intangible assets
5.1
8.8
16.3
-42.1%
Cash and equivalents
935
403
420
+132.4%
Receivables
53.1
190
45.0
-72.0%
Inventory
29.8
30.2
22.5
-1.4%
Other assets
507
395
398
+28.2%
Total assets
1,800
1,278
1,149
+40.8%
10-K for the year ended 31 March 2014, filed 14 May 2014: the filing.