DOING A DOUBLE ‘TAKE’

Video-game publisher Take-Two Interactive Software had good and bad news for investors yesterday, signing a new long-term contract with a key development team while at the same time reporting a sharply wider fiscal fourth-quarter loss.

Slammed by the sharp cutback in consumer spending, Take-Two post- ed a loss of $15 million, or 20 cents per share, for the three months ended Oct. 31, compared with year-earlier red ink of $7 million, or 10 cents per share.

At the same time, Take-Two said it inked a deal that will keep Rockstar Games, the developer of the company’s biggest hit, “Grand Theft Auto,” in the Take-Two stable until 2012. The threat of Rockstar being lured to a competitor has been a drag on Take-Two’s stock.

Though details of the new contract were not disclosed, the new pact was described as including incentive-based compensation, and included a profit-sharing agreement and funding for new projects.

Yesterday’s results, along with a warning that it would post a loss during the next quarter and at most book a full-year profit of 20 cents a share, sent Take-Two’s shares down 18 percent in after-hours trading to under $10. Its shares were up a penny to $12.07 in regular trading.

The stock is now trading significantly lower than the $25.74 price that rival Electronic Arts offered earlier this year but was rejected by Take-Two.

EA last week said it would miss revenue and earnings guidance for the year ending in March.