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Take-Two posts $31.2 million annual loss, ships 3.7 million copies of BioShock Infinite

Michael McWhertor is a journalist with more than 17 years of experience covering video games, technology, movies, TV, and entertainment.

Take-Two Interactive posted an annual loss of $31.2 million on earnings of $1.214 billion for its fiscal year ending March 31, a year-over-year improvement for the publisher of Borderlands, BioShock and Grand Theft Auto.

For Take-Two's fourth quarter, the publisher brought in revenue of $299.5 million, up from $148.1 million during the same quarter last year. Net income was $21.2 million, compare to a net loss of $66 million from a year ago. Take-Two credits Irrational Games' BioShock Infinite as one of its largest contributors to net revenue, alongside sales of older titles, including Grand Theft Auto 4, Red Dead Redemption and Civilization 5.

BioShock Infinite has sold-in more than 3.7 million units since launching on March 26, Take-Two said.

The company also highlighted sales of "digitally delivered content" for games like Borderlands 2, the Grand Theft Auto franchise, NBA 2K13 and XCOM: Enemy Unknown, as well as "solid demand" for BioShock Infinite's season pass.

Take-Two's projections for its current fiscal year, which ends March 31, 2014, point to revenue of $1.75 to $1.85 billion. Chairman and CEO Strauss Zelnick says its FY 2014 is "poised to be one of our best years" thanks to releases like Grand Theft Auto 5, which is due in September. Zelnick also confirmed Take-Two has "an extensive pipeline of next-generation and emerging platform titles in development, including both new intellectual property and releases from our proven franchises."

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