Take-Two Interactive Software, Inc. to Change Name of Operational Metric from “Net Sales” to “Net Bookings”

NEW YORK–Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced that,
starting with its results for the fiscal second quarter 2018, ended
September 30, 2017, the Company will change the name of its operational
metric from “Net Sales” to “Net Bookings”. The Company is making this
change in order to avoid confusion with the net sales captions used by
some companies in their GAAP financial statements, and to be consistent
with operational metrics provided by its peers.

 

Net Bookings is defined as the net amount of products and services sold
digitally or sold-in physically during the period, and includes
licensing fees, merchandise, in-game advertising, strategy guides and
publisher incentives. The Company’s definition of Net Bookings is
identical to its previous definition of Net Sales.

As previously announced, the Company plans to report its financial
results for fiscal second quarter 2018 after the market close on
Tuesday, November 7, 2017. The Company plans to hold a conference call
to discuss its results at 4:30 p.m. Eastern Time, which can be accessed
by dialing (877) 407-0984 or (201) 689-8577. A live, listen-only webcast
and a replay of the call will be available at http://ir.take2games.com/.

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a
leading developer, publisher and marketer of interactive entertainment
for consumers around the globe. The Company develops and publishes
products principally through its two wholly-owned labels Rockstar Games
and 2K. Our products are designed for console systems and personal
computers, including smartphones and tablets, and are delivered through
physical retail, digital download, online platforms and cloud streaming
services. The Company’s common stock is publicly traded on NASDAQ under
the symbol TTWO. For more corporate and product information please visit
our website at http://www.take2games.com.

All trademarks and copyrights contained herein are the property of their
respective holders.

Cautionary Note Regarding Forward-Looking
Statements

The statements contained herein which are not historical facts are
considered forward-looking statements under federal securities laws and
may be identified by words such as “anticipates,” “believes,”
“estimates,” “expects,” “intends,” “plans,” “potential,” “predicts,”
“projects,” “seeks,” “should,” “will,” or words of similar meaning and
include, but are not limited to, statements regarding the outlook for
the Company’s future business and financial performance. Such
forward-looking statements are based on the current beliefs of our
management as well as assumptions made by and information currently
available to them, which are subject to inherent uncertainties, risks
and changes in circumstances that are difficult to predict. Actual
outcomes and results may vary materially from these forward-looking
statements based on a variety of risks and uncertainties including: our
dependence on key management and product development personnel, our
dependence on our Grand Theft Auto products and our ability to
develop other hit titles, the timely release and significant market
acceptance of our games, the ability to maintain acceptable pricing
levels on our games, and risks associated with international operations.
Other important factors and information are contained in the Company’s
most recent Annual Report on Form 10-K, including the risks summarized
in the section entitled “Risk Factors,” the Company’s most recent
Quarterly Report on Form 10-Q, and the Company’s other periodic filings
with the SEC, which can be accessed at www.take2games.com.
All forward-looking statements are qualified by these cautionary
statements and apply only as of the date they are made. The Company
undertakes no obligation to update any forward-looking statement,
whether as a result of new information, future events or otherwise.


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