Activist investor Carl Icahn reported an 11.3 percent stake in U.S. video game publisher Take Two Interactive Software Inc
Icahn and affiliated funds built up their stake in Take Two to roughly 9.1 million shares in recent weeks, according to a regulatory filing with the U.S. Securities and Exchange Commission on Thursday.
The filing said Icahn and other related investors may seek conversations with Take Two representatives about the company, but it did not elaborate.
Separately, Take Two, which publishes the video game Grand Theft Auto, reported a wider quarterly loss because of disappointing sales and high costs.
The results for the fiscal fourth quarter were in line with what the company had pre-announced earlier in December, which had been well below Wall Street expectations.
Take Two said on Thursday it expected to incur a second consecutive annual net loss in fiscal 2010 as it continued to feel the pressure of weak economic conditions.
Take Two Chairman Strauss Zelnick said in an interview that the company was looking at ways to cut costs, but that it was not planning layoffs.
Shares of Take Two, which fell more than 30 percent earlier in December after it pre-announced its results, were up 3.5 percent at $8.54 after-hours on Thursday.
Carl Icahn was not available for comment. A Take Two spokesman said the company does not comment or speculate on shareholders.
Take Two said on Thursday that revenue in the fourth quarter rose to $343.4 million, compared with $323.4 million a year ago. Analysts were expecting $340 million in revenue, according to Thomson Reuters I/B/E/S.
The company recorded a net loss of $22 million, or 28 cents a share, in the quarter ended October 31, compared with a net loss of $15 million, or 20 cents a share, a year ago.
Excluding special items, including a $15 million goodwill writedown related to its distribution business, Take Two said it earned 9 cents a share.
For the fiscal first quarter of 2010, Take Two reiterated its previous forecast of $210 million to $260 million in revenue, with an adjusted loss per share between 40 cents and 50 cents.
Analysts were expecting revenue of $226.6 million, with a 47 cents per share loss, excluding items.
(Reporting by Alexei Oreskovic, editing by Matthew Lewis)