38 Total Quotes

Michael Pachter Quotes

You're going to see the Revolution as the second console of choice in the household.
Michael Pachter
#Choice

[Sony's people have] bet the entire future on this, ... It's too important for them to lose, so they will do everything they can to win.
Michael Pachter
#Future

We note that NPD U.S. retail video-game software sales data for the January quarter implies that Take-Two's sales are down 40 percent compared with the prior-year quarter, so we believe that the company is likely on track to meet our revenue and earnings per share estimates for the period.
Michael Pachter
#Sales

After April, we expect monthly next generation software sales to remain fairly stable at around $100 - 150 million through October (representing year-over-year growth of $80 - 130 million), with declines of current generation software sales expected to remain at around $130 - 150 million monthly. We expect relatively flat sales through the summer months, with potentially robust sales in November and December, once next generation consoles from Sony and Nintendo are launched.
Michael Pachter
#Sales

The analysis is significant, insofar as Take-Two's overhead has dramatically increased over the last five years.
Michael Pachter
#Analysis

We think that the decline in overall sales of current-generation software in December indicates the beginning of a trend that will persist well into 2006, and we anticipate double-digit declines in current-generation software sales for the first half of 2006.
Michael Pachter
#Beginning

I guess that is the equivalent of betting 25% of your stack on four hands of blackjack and busting each time.
Michael Pachter
#Betting

The stock is getting hammered because investors are reacting like this is the next step to bankruptcy when in fact I think meeting with the banks is a good thing. Renegotiating the covenant is a positive because it means they won't be forced into bankruptcy.
Michael Pachter
#Bankruptcy

Microsoft's first-mover advantage is eroding if it takes them very long to get the first 5 million boxes out. If 4 million show up in the month of June and Sony launches in the month of June, there's not much of an advantage (for Microsoft).
Michael Pachter
#Advantage

NPD US retail video game software sales data for the January quarter implies that Take-Two's sales are down 40 percent compared with the prior year quarter.
Michael Pachter
#Sales

Clever and different and new doesn't necessarily work unless you convince consumers that they really want it.
Michael Pachter
#Work

You need people to buy more stuff. This is a bad downturn.
Michael Pachter
#People

I think the SEC is very likely trying to understand what industry practices are and see if these guys have the potential to manipulate earnings,
Michael Pachter
#Trying

I'm surprise that the naïveté of the NFL and its players, ... By giving a five-year license and giving EA an exclusive, they're going to eliminate all of the competition. So in five years, the license fee is going to be whatever EA decides it wants to pay.
Michael Pachter
#Giving

I want to see the games side by side. I want to see Madden for the Xbox 360 next to Madden for the PlayStation 3.
Michael Pachter
#Games

I think the SEC is very likely trying to understand what industry practices are and see if these guys have the potential to manipulate earnings.
Michael Pachter
#Trying

I'm surprise that the naïveté of the NFL and its players. By giving a five-year license and giving EA an exclusive, they're going to eliminate all of the competition. So in five years, the license fee is going to be whatever EA decides it wants to pay.
Michael Pachter
#Giving

The lack of specific guidance reflects that these guys weren't really prepared for a downturn and they are not really sure how bad it is, how long it will last, or whether it will persist beyond the first couple quarters of '06.
Michael Pachter
#Guidance

It's like a shifting of loan repayment responsibility, collateralized by Midway shares.
Michael Pachter
#Responsibility

We believe that industry sales have been quite weak since Take-Two's late October negative preannouncement, primarily due to consumer malaise and a shortage of Xbox 360 hardware... Given weak November NPD sales and Electronic Arts' and Activision's recent earnings warnings, we believe that Take-Two likely experienced weak sales during the holiday period, as consumers continue to shun current generation games while waiting for next generation consoles.
Michael Pachter
#Sales

One reason they didn't make my number was because they added so much to the reserves.
Michael Pachter
#Reason

EA has a bunch of underperforming games, and I think that the cuts reflect that.
Michael Pachter
#Games

We believe that speculation about a potential leveraged buyout is unfounded. If anything, Take-Two's disclosure that it may require additional capital to fund next generation game development suggests to us that it is not an LBO candidate.
Michael Pachter
#Potential

Nobody comes in to bid on that. They wait for the body to stop twitching, then swoop down and pick the meat off the carcass.
Michael Pachter
#Body

Although Midway continues [to] generate large losses, we continue to believe that Midway is a potential turnaround story. The company's cost structure suggests that it can achieve profitability at revenue levels of $300 million annually, and we remain confident that Midway will be able to generate revenues at the $300 - 800 million level over the next several years. However, to achieve this level of revenues, the company must continue to expend resources on growing its development capability.
Michael Pachter
#Potential

I think they are very close to the edge with the banks. If the business plays out the way I think it will play out, they won't trip the covenants. I think they are not giving themselves enough cushion to weather a downturn and it makes me hesitate in recommending the stock.
Michael Pachter
#Business

The worst effects of the transition lie ahead. Although we expect a brief respite from double-digit sales declines in April, when Microsoft is likely to double the supply of Xbox 360 hardware units, we expect a return to software sales declines over the next several months.
Michael Pachter
#Sales

I am skeptical that we are going to see content that even comes close to harnessing the power of either box for the next several years. It's like using a 3.2 gigahertz PC or a 3.4 gigahertz PC for word processing -- it's not going to make much of a difference.
Michael Pachter
#Power

We expect modest growth in November and dramatic growth in December,
Michael Pachter
#Growth

We do not expect a current generation Xbox price cut from Microsoft this year, notwithstanding the company's stated intention to 'support' the current generation console. We believe that Microsoft's production cost of the Xbox is higher than the current retail price, precluding further price cuts, and we also think that the company prefers that consumers buy its next generation console when that box is introduced.
Michael Pachter
#Intention