Wedbush Morgan analyst Michael Pachter has said that the company expects Grand Theft Auto IV to sell nine million copies in the current fiscal year, with six million of those units likely to be shipped within its first week on sale.

The highly anticipated entry in the crime series is expected to account for approximately USD 450 of publisher Take-Two’s USD 1.073 billion revenues for this year, generating a further USD 135 in operating profit.

Despite this, Pachter stated that the game is unlikely to make up for the company’s poor release schedule for 2008-2009, noting the questionable delay of several high profile sequels.
 
"As we look at Take-Two's line-up, we see GTA IV, and several games that look much like Take-Two games from past years," offered Pachter.
 
"We are fans of Midnight Club, but question the decision to delay the game's launch into the competitive Burnout and Need for Speed window as ill-advised. We also note that the Q4 2008 launch of Midnight Club will mark three and-a-half years between versions of the game, highlighting Take-Two’s failure to "sequelise" its key franchises on a regular basis."

Pachter observed the length of time between some of Take-Two’s more prominent franchises, noting the last entry in the Max Payne series was released in late 2003, with both Red Dead Revolver and Mafia releasing in early 2004.

"Unless management surprises us, sequels to these key franchises will require five or more years of development," he added.
 
He also appeared unimpressed by the latest slew of titles to be announced by the publisher, including the likes of Top Spin 3 and Carnival Games, commenting, "These games appear to us like the Manhunt, BIGS, All-Pro Football, Ghost Rider and Fantastic Four games of last year, when the company generated a net operating loss of more than USD 100 million.”

Finally, in regards to the proposed acquisition by Electronic Arts, Pachter stated that he expects a resolution to be made before the company’s AGM on April 10, adding, "We expect that in order to save face, Take-Two management will withdraw its demand that any discussions wait until after the launch of GTA IV, and we think that management will engage in discussions with EA.”

"We think that EA prefers to complete a friendly deal, and think that it is possible that Take-Two management can convince EA of the extent to which EA may have undervalued Take-Two shares, and believe that as a conciliatory gesture, EA management may be prepared to increase its likely USD 26 offer to somewhere close to USD 27."

"Again, we think investors will jump at the offer," he offered.

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