Take-Two has announced revenue details and sales figures for the third quarter of fiscal year 2011-2012, ending December 31st. Revenue is down by 40 per cent, coming down for $334.3 million during 2010-11’s holiday season to $236.3 million this year.

Take-Two says that they didn’t have many big games around this the time this year, whereas they had Red Dead Redemption: Undead Nightmare and Grand Theft Auto IV: The Complete Collection last time. The NBA lockout has also been harmful for them, they say. Net income during the holiday season has fallen from $49.5 million last year to $29 million this year.

They have also released sales figures, confirming that the western open world action adventure, Red Dead Redemption has sold a total of a whopping 13 million copies. L.A. Noire has sold almost 5 million units, and NBA 2K12 is at 4 million copies.

NBA 2K12, Red Dead Redemption, NBA 2K12, Grand Theft Auto, Midnight Club Los Angeles and Borderlands brought in the most revenue for Take-Two Interactive during the third quarter.

Digital sales made up for 11% of the revenue, with most profit coming off Grand Theft Auto III for iOS and Android. DLCs for GTAIV, Red Dead Redemption and L.A. Noire also made up for a lot of the digital sales and contributed greatly to the net revenue.

The nine months net revenue from March 2011- December 2011 was down by almost $300 million compared to what we saw last year. It has fallen from $954.6 million from a year ago to $677.7 million, making Take-Two suffer a loss of $8.4 million, as opposed to the profit of $108.8 million they enjoyed last year.

As a result of disappointing revenue, Take-Two has updated their expectations for the fourth quarter and the full financial year as a whole. Net income for the fiscal year ending on March 31st is expected to be between $112 million and $162 million, down from the initially predicted $225 million to $275 million.

Take-Two expects the net revenue for the entire fiscal year to be between $790 and $840 million, as opposed to the $1 billion to $1.1 billion they previous expected, attributing this to the delay of Max Payne 3’s release.