THQ Posts Record Loss

February 3, 2011 -

THQ recorded a major loss and saw its revenues fall in the third-quarter as consumers spent less on its video games during the holiday shopping season. The company posted a net loss of $14.9 million, compared with a profit of $542,000 in the same period a year ago. THQ's revenue fell 11 percent to $314.6 million from $356.9 million a year earlier.

Still, the company tried to put a brave face on the discouraging revenue numbers.

"We posted a strong holiday quarter led by our new uDraw GameTablet, which shipped 1.2 million units. This owned intellectual property provides THQ with a new growth opportunity focused on innovative and creative game play," said THQ President and CEO Brian Farrell. "Our fiscal fourth quarter continues our robust release schedule of high quality, high profile games including Homefront, WWE All Stars, and de Blob 2."

For the fiscal third quarter ending December 31, 2010, THQ reported net sales of $314.6 million, compared with $356.7 million in the prior-year period. On a non-GAAP basis, for the three months ending December 31, 2010, the company reported net sales of $323.1 million, compared with $357.0 million a year ago.

Looking ahead the company predicted fiscal fourth quarter non-GAAP net sales in the range of $245 - $260 million, and non-GAAP EPS of $0.05 - $ 0.15. The new guidance primarily reflects the move of UFC Personal Trainer into fiscal 2012, and lower expected sales of kids movie-based licensed games.

For the fiscal year ending March 31, THQ expects to report non-GAAP fiscal 2011 net sales in the range of $800 - $815 million and a non-GAAP net loss per share for fiscal 2011 in the range of $0.25 - $0.35. 

Posted in

Comments

Re: THQ Posts Record Loss

Seriously dude, proofread before you post. THQ's profit last year was $542,000 (five hundred and forty-two THOUSAND, not million) and while they did report a loss this quarter, it was anticipated and below expectations because uDraw sold far more than they expected it to. THQ has never been big enough to most a $500M+ profit in their history and in fact couldn't with revenues of $357M a year ago as you also state.

Parallax Abstraction
Ottawa, Ontario, Canada
www.digital-lifeline.ca

Parallax Abstraction
Ottawa, Ontario, Canada

Re: THQ Posts Record Loss

I've kinda come to expect stuff like this from GP lately. Recently, almost every other article contained at least one glaring typo.

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
WonderkarpI didnt know we were talking about Capitalism. What do mass shootings have to do with trade and industry that is controlled by private owners for profit?01/25/2015 - 3:28pm
ConsterYou do realize that what you're doing right now isn't what capitalism means, right?01/25/2015 - 2:39pm
WonderkarpActual Thing, Never Proven :P We All Know That You Dont Need Evidence For Something To Be Real, Huh.01/25/2015 - 9:40am
ConsterAh, that explains it - since the second thing you named is an actual thing, I wasn't sure if you were being sarcastic.01/25/2015 - 7:39am
WonderkarpConster, I was quoting Anita Sarkeesian01/24/2015 - 10:39pm
ZippyDSMleeodd its not wanting to post half the time 0-o01/24/2015 - 10:21pm
ZippyDSMleetest01/24/2015 - 10:21pm
ConsterWonderkarp: did the US actually bomb Japan back to traditional values? My history lessons were eurocentric, so I wouldn't know.01/24/2015 - 9:39pm
ZippyDSMleeeffect like confusion,ect. QTEs are a gimmick that can easily be shallow because you are looking to mess with conditioned responses and nothing messes with them more than random gameplay changes..01/24/2015 - 7:58pm
ZippyDSMleeWonderkarp: They tried to be natural with God Of Wars QTE’s, sometimes it felt random which I hate the most in QTEs. The way you interface with gameplay (press X to get X result) should never rely on randomly generated mechanics unless it’s a status01/24/2015 - 7:57pm
Andrew EisenI've passed your comment on.01/24/2015 - 5:45pm
Neo_DrKefkaHey GamePolitics staff can you guys work out the way the ads are delivered via mobile? Sometimes any attempt to do anything on this site automatically forwards you to download "Flappy bird" on a shady site or another thing. It just hijacks my Safari01/24/2015 - 3:47pm
WonderkarpI feel like the only good QTEs were the ones in the God of War series. I dont know why though.. maybe its the visceral carnage01/24/2015 - 1:13pm
ZippyDSMleeprh99: QTEs are dumb I ever understood the need for them outside being cheap and wanting to pad mechanics with scripted events that use only a few buttons.01/24/2015 - 12:58pm
InfophileAnd a more detailed breakdown of expenses here: http://imgur.com/L46SUMw01/24/2015 - 12:42pm
InfophileFor anyone still complaining about where the funding for Tropes vs. Women went: https://www.dropbox.com/s/q4z6qa561roidh5/femfreq_annualreport2014.pdf?dl=0 (page 16) Not that this will actually stop claims of fraud, but it's good to have a counter.01/24/2015 - 12:38pm
prh99Linux kernel patch breaks Witcher 2. Apparently it was a wrapped Windows version instead of native port. http://m.slashdot.org/story/21270301/24/2015 - 11:12am
prh99I am not a fan of QTEs. Toggle joystick to break away from an enemy is ok...01/24/2015 - 12:26am
Goth_Skunk@WonderKarp: *fistbump*01/24/2015 - 12:00am
ZippyDSMleeIts like they took the fiction from soemthing else and tried to impose it on the Turok IP 0-o01/23/2015 - 10:14pm
 

Be Heard - Contact Your Politician