Take-Two has confirmed that they made a profit in the third fiscal quarter that ended on July 31st, 2010. The company managed $354.1 million in sales, which is up from $94.9 million for the same quarter last year. Net income clocked in at $6 million, which is up from a loss of $56 million last year.

Red Dead Redemption has been credited with achieving most of these numbers. The game has now shipped 6.9 million units. Grand Theft Auto: Episodes From Liberty City, GTA IV, NBA 2K10 and Borderlands also managed to contribute. The company expects to be profitable for the full fiscal year with sales of $1.05 to $1.1 billion.

“Our results for the third quarter and our expectations for the remainder of fiscal 2010 reflect significant progress toward achieving our goals,” said Take-Two CEO Ben Feder. “First, we expect to be profitable in a fiscal year without a major multi-platform Grand Theft Auto release. Second, Take-Two’s broad array of hit franchises highlights our ability to deliver a diverse product line. Third, Red Dead Redemption has shown that our creative teams can produce multiple mega-hit franchises.”

“Our fourth quarter roster, including Mafia II, Sid Meier’s Civilization V and NBA 2K11, demonstrates our continued ability to create a well-balanced line-up across all of our labels and build upon Take-Two’s industry-leading franchises. Finally, we are making strides in extending the value of our intellectual property into two key areas, Asia and online distribution.”