Greetings, and welcome to the Take 2 Interactive Software's Financial Results for the 3 12 months ended October 31, 2010. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Hank Diamond, Senior Vice President of Investor Relations And Corporate communications for Take 2 Interactive. Thank you, Mr.
Dimon. You may begin.
Good afternoon. I'm Hank Diamond, and I'm very excited to have recent me join Take 2 as Senior Vice President of Investor Relations And Corporate Communications. Welcome, and thank you all joining us on our conference call to discuss Take Two's results for the 3 12 months ended October 31, 2010. As previously announced, the company's board of directors has approved a fiscal year end change from October 31st to March 31st. Future financial results will be reported in accordance with this change beginning with the 3 9 months ended December 31, 2010.
Today's call will be led by Strauss Zelnick, Take 2's Chairman, Ben Feder, our Chief Executive Officer Carl Kladoff, our Chief Operating Officer and Lainie Goldstein, our Chief Financial Officer. We will be available to answer your during the Q And A session following our prepared remarks. Before we begin, I'm obliged to review our Safe Harbor statement by reminding everyone that the statements made during this call that are not historical facts are considered forward looking statements under federal securities laws. These forward looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to us. We have no obligation to update these forward looking statements.
Actual operating results may vary significantly from these forward looking statements based on a variety of factors. These important factors are described in our filings with the SEC, including our 10 K for the fiscal year ended October 31st, 2009, and our 10 Q for the 3 months ended July 31 2010. These documents may be obtained from our website at w.take2games.com. And now, I'll turn the call over to Ben.
Thanks, Hank. Good afternoon, everyone, and thank you for joining us. Early 4 years ago, I joined Take 2 as part of a management team that shared a single vision with our colleagues and shareholders of what the company could become. That vision was and remains to make this the most creative the most innovative and the most efficient company in the interactive entertainment industry. From day 1, we took action to transform our organization.
These actions included investment in our superb creative teams, a highly disciplined approach to building our portfolio of world class titles, a sharpened focus on our core business and continued emphasis on efficiency throughout the company. Today, Take 2 stands as one of the industry's most dynamic and well positioned leaders. As a result of the terrific efforts of our team, I'm extremely proud to say that portfolio across all of our publishing labels comprised of critically and commercially successful AAA titles. And we own the vast majority of our intellectual property. We streamlined our strategy to focus on our core business of creating the highest quality interactive entertainment experiences and divested non core assets, including jack of all games.
We supplemented our business by selectively engaging in strategic opportunities in emerging markets, new platforms, and digital distribution channels. We implemented a targeted restructuring that drove more than $40,000,000 of costs out of our business without compromising our creative standards and competitive edge. We enhanced our sound financial position by completing a $138,000,000 convertible note offering during one of the most difficult economic environments in U. S. History.
We resolved all of the legal governmental investigations that had tarnished the company's reputation. We optimized and achieved profitability in our sports business. And this year, we achieved our paramount goal to generate profitability in a year without a major Grand Theft Auto release. I'm incredibly proud of the team at Take 2 and their 6 in transforming the company into the profitable, diversified, and growth oriented business that it is today. Tay 2 is truly a new company, one that is in a stronger position now than in any other time in its history.
I'd like to thank everyone throughout our organization with whom I've had the honor to work during my tenure as CEO. Your commitment to excellence throughout this change and establish establish the groundwork for what promises to be an even brighter future. Now, I'd like to turn the call over to Strauss. Thanks, Ben.
I'd like to take this opportunity to thank Ben for his valued leadership which has played an integral role in transforming our business and creating a strong foundation upon which Take 2 can build in the future. I share Ben's deep appreciation for pride in our entire team's contribution. We intend to maintain the same strategy and the same focus on execution going forward. Turning to our results, we're pleased to report both revenue and earnings that significantly exceeded our prior guidance. For the 12 months ended October 31, 2010, net revenue increased 65 percent to $1,160,000,000.
Our non GAAP income from continuing operations increased to $98,000,000. $4 6 per diluted share. And we finished the period in a strong financial position with $251,000,000 in cash, and ample borrowing capacity on our undrawn credit facility. In the last 12 months, more than 14 new titles contributed to our revenue across all of our labels. This achievement underscores our commitment to diversifying our portfolio, delivering more consistent and balanced revenues.
And most importantly, achieving profitability in a year without a new major Grand Theft Auto release. Rockstar had phenomenal success with the launch of Red Dead Redemption, which is sold in nearly 8,000,000 units worldwide and continued catalog sales, including Grand Theft Auto Four And Midnight Club Los Angeles. Two k had its best year ever with the commercial and critical successes of BioShock 2, mafia 2, Civilization 5, and NBA 2k11. In addition, our 2 k sports division achieved profitability this year, driven primarily by strong sales of NBA 2k11, which is sold in more than 3,000,000 units worldwide, as well as MLB 2K10. Our world class creative teams continued to set new benchmarks for innovation and overall excellence.
Red Dead Redemption, BioShock 2, Civilization 5, and NBA 2k11 earned extraordinarily scores and have been honored with numerous industry accolades. Last weekend, Red Dead Redemption won game of the year at Spike TV's 2010 Z GAs. And we also took home several other key awards, including best team sports game for NBA 2k11, best song in a game for far away from Red Dead Redemption, best original score for Red Dead Redemption, and best downloadable content for Red Dead Redemption on Dead Nightmare. These awards reflect our strong and diverse portfolio of intellectual property, which is now translating into profits. Our digitally delivered offerings also contributed to our revenues and profits.
We were one of the first publishers to create downloadable content and have steadily expanded the segment of our business. In 2010, we released many successful VLC packs for titles such as border lands, Bioshock 2, mafia 2, and Red Dead Redemption. Digital content remains an important opportunity for future growth and profitability and we'll continue to invest in this area of our business. Our diverse catalog is also an excellent source of ongoing revenues. It positions us well to maximize the value of our intellectual property as this console generation continues to stand its life cycle.
The strength of our catalog is reflected in the fact that we consistently sell a higher number of units per SKU than any third party publisher in the industry. We're proud of the progress that we've made throughout this year. Our financial performance set against challenging economic environment illustrates our ability to deliver increasingly diverse portfolio