Gearbox and 2K announced that Borderlands 2 will be released in their 2013 fiscal year.

From the press release:

    2K Games and Gearbox Software announced today that the sequel to the extravasplosive breakout hit, Borderlands™, is currently in development at world-renowned developer Gearbox Software. Coming to the Xbox 360® video game and entertainment system from Microsoft, PlayStation®3 computer entertainment system and Windows PC during Take-Two’s fiscal year 2013 beginning on April 1, 2012, Borderlands 2 is the epic sequel to the ultimate four-player Role-Playing Shooter loot fest. Combining invention and evolution, Borderlands 2 features all new characters, skills, environments, enemies, weapons and equipment, which come together in an ambitiously crafted story. Players will reveal secrets, and escalate mysteries of the Borderlands universe as they adventure across the unexplored new areas of Pandora.