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. 

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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.

 
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MattsworknameOff topic, but, who heres playing Bloodborne, and if so, is it mercillesly murdering you every chance it gets?04/25/2015 - 7:35am
Matthew WilsonI think its a good article, and devs can take some lessons from life is strange.04/24/2015 - 10:24pm
Andrew EisenI tinyURL'd it. The world is safe!04/24/2015 - 10:23pm
Matthew Wilson@AE my bad there is nothing I can do about that.04/24/2015 - 10:21pm
Andrew EisenLooks like the spoiler is right there in the URL.04/24/2015 - 10:20pm
Matthew Wilsonhttp://tinyurl.com/ok9pf6b a interesting opinion piece on the life is strange episode 2, and a dark event that happens in it. full warning major spoilers.04/24/2015 - 10:11pm
Matthew Wilson@mech no just she, nor her co workers have not. she never said it is not real.04/24/2015 - 8:58pm
MechaCrashWas she saying "I haven't experienced it," or "I haven't experienced it therefore it does not exist"?04/24/2015 - 8:31pm
ZippyDSMleeoy the skyrim paid mod thing is going over well. My 2 lints, I would not mind if Skyrim had a full SDK and not a crappy lil editor....04/24/2015 - 6:46pm
Andrew EisenWell, that is indeed crappy and nonsensical.04/24/2015 - 3:45pm
Matthew Wilsonshe got attacked for saying that she personaly has not experienced the harassment some other female devs have, and she got acused of defending GG and ignoring harassment. she ended up getting dog piled because of it.04/24/2015 - 3:43pm
Andrew EisenFine but do you recall ANY details at all?04/24/2015 - 3:38pm
Matthew Wilsonit was several weeks ago now, and I will admit to not saving it.04/24/2015 - 3:36pm
Andrew EisenAttacked HOW and by WHOM for not writing off WHO as evil? Do you have a link or anything?04/24/2015 - 3:31pm
Matthew Wilsonthat is the whole point she was not attacked for saying anything. she was attacked for being willing to debate in the first place, and not just write them off as evil.04/24/2015 - 3:28pm
Andrew EisenI know there's not a lot of room in the Shout box but goodness you're being vague.04/24/2015 - 3:26pm
Andrew EisenGreat, but that STILL doesn't tell me what she said, why she was attacked (or what the attack was) or what "standard line" she's following. Details, man. Details!04/24/2015 - 3:25pm
Andrew EisenOr what the heck Nina White (someone else I've never heard of) is actually referring to.04/24/2015 - 3:24pm
Matthew Wilson@AE she is a game dev. she used to do stuff with hormanix and now works with https://outact.net/#!/?page_id=2 she will often engage and debate both side.04/24/2015 - 3:23pm
Andrew Eisen...following.04/24/2015 - 3:23pm
 

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