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Take-Two’s Stock Gets Hammered On Lowered Quarterly, Annual Guidance

Game publisher Take-Two (NSDQ: TTWO) Interactive’s stock is down by 20 percent, after the company lowered guidance for its fiscal Q4 and full-year 2009 — and told investors that attaining profitability in 2010 wasn’t likely. This is the second time Take-Two lowered guidance this year; it told investors it would possibly make around $200 million less for fiscal 2009 after it had to push back the release of BioShock 2.

The company now expects its fiscal Q4 EPS to be between 5 cents and 10 cents — far below the forecast of 30 cents to 35 cents it gave during its fiscal Q3 earnings report. Analysts had been expecting about 33 cents, per TradingMarkets.com.

Meanwhile, the company expects to do between $325 million and $350 million in sales in Q4, vs. its previous forecast of $350 million to $375 million; Take-Two pinned the drop to poorer performance of its MLB titles, inventory write-downs and less demand for “several of its key holiday releases.”

As for the full year, Take-Two expects to post a loss of $1.10 to $1.15 per share; the Street was expecting an 84-cents per share loss. And it’s not going to get better in its fiscal Q1 (which ends January 31st, 2010) : it expects a loss of between 40-cents to 50-cents per share on sales as low as $210 million — not a good sign for a quarter that includes the holidays. Release.