Take-Two's fourth fiscal quarter runs from August through the end of October.
BioShock 2 is under development by the Novato, California-based studio 2K Marin. The new development house is rumored to consist of several former 2K Boston and 2K Australia employees.
The publisher also announced that BioShock creator Ken Levine will be involved in the development of the sequel, though his role on the project was not specified. Levine's home studio of 2K Boston is rumored to be working on a new X-COM title.
"[Ken Levine] is critical to BioShock," said a Take-Two representative.
No platforms were announced. The game will likely make an appearance on both Xbox 360 and PC, and comments made earlier in the year by 2K Games president Christopher Hartmann indicate the game could also be released on PlayStation 3.