Take-Two Interactive today released its third-quarter financial results for the period ended July 31. Net revenues totaled $433.8 million, more than double the $206.4 million for the same quarter of fiscal 2007, and net income soared to $51.8 million, compared to a net loss of $58.5 million during the same period last year.

Of course, Rockstar Games' GTA IV had a major impact on Take-Two's bottom line. Take-Two reported that over 10 million units have been sold through to consumers as of August 16, 2008. Other Q3 contributors included Top Spin 3 and Sid Meier's Civilization Revolution.

Take-Two also noted that Carnival Games for Wii and DS has shipped over 2 million units since its debut in late August 2007. The 2K Play label will be expanding the franchise with Carnival Games: Mini-Golf for the Wii in the fourth quarter of fiscal 2008.

Looking at the company's first nine months of the fiscal year, Take-Two revenues jumped from $689.2 million to over $1.2 billion. Net income for the period came to $112.1 million, far improved over the $131.3 million loss of 2007. Take-Two did note that results for the first nine months included $31.1 million in stock-based compensation expense ($0.41 per share); $10.7 million in professional fees and legal expenses, primarily related to Electronic Arts' unsolicited tender offer ($0.14 per share); and $2.9 million in business reorganization costs ($0.04 per share).

Take-Two is naturally thrilled with its strong performance during Q3. "Take-Two's exceptionally robust third quarter results reflected our continuing efforts to build a diverse roster of outstanding entertainment software brands, supported by an increasingly productive and efficient business organization," commented Strauss Zelnick, Chairman of Take-Two. "Thanks in particular to the creativity of our global development teams and their passion for producing great entertainment, we are benefiting from a portfolio that is the strongest in our Company's history, as well as one of the most valuable in our industry."

"I'm extremely pleased with our strong position heading into the holiday season," added Ben Feder, Chief Executive Officer of Take-Two. "Our world-class holiday portfolio includes Grand Theft Auto IV, Top Spin 3, Sid Meier's Civilization Revolution, and Carnival Games, as well as upcoming hits such as Midnight Club: Los Angeles, BioShock for PlayStation 3, and a range of sports titles. Longer term, we're sharply focused on bringing our popular products to new regions and new markets, as we continue to seek opportunities for profitable growth and enhanced stockholder value."

Looking ahead to the fourth quarter and fiscal year ending October 31, Take-Two has increased its guidance for fiscal year 2008, but the company also reduced its guidance for the fourth quarter, "primarily due to the significantly better than expected third quarter results and shifts in the timing of certain product releases, the most significant of which are Midnight Club: Los Angeles and Midnight Club: LA Remix, which will now be released on October 21st and October 24th in North America and Europe, respectively."

Fourth quarter guidance (non-GAAP) was reduced to a range of $285 million to $335 million in revenues and $0.01 to $0.05 in earnings per share. For the full year, Take-Two is now expecting $1.5 billion to $1.55 billion in revenues and $2.08 to $2.12 in earnings per share.