Take-Two saw $1.2 billion in net sales for the fiscal year ending on October 31, 2005. That is much less than the previous year. The company cites R&D expenses as the culprit, but we can't help but think the NFL 2K loss at the expense of EA's exclusive deal couldn't have helped. The publisher also announced they wouldn't be hitting their Q1 2006 targets either. From the article: "Another reason Take-Two won't make its previous Q1 FY2006 guidance is today's revelation that two major 2K Sports titles, Top Spin 2 (Xbox 360, DS, and Game Boy Advance) and College Hoops 2K6 (Xbox 360, PlayStation 2), have been pushed back from their January 2006 release dates. The official reason given for the delays was to 'provide additional development time.'"

This article was originally published on Joystiq.

CES: Xbox 360 booth