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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MattsworknameRockstart should sue casue it's censorship by Proxy07/28/2015 - 5:44pm
MattsworknameOh thtats bullshit and you know it, they took it down cause of the shirll bithcing of a mob of feminists. They essentially yelled tarrget into submission07/28/2015 - 5:44pm
Andrew EisenNatir - I didn't say that. Of course they have. Most tangibly Sarkeesian.07/28/2015 - 5:40pm
Andrew EisenThey weren't bullied into doing a damn thing. They made a business decision. And Rockstar should sue them? On what grounds?07/28/2015 - 5:35pm
Andrew EisenOoh, there's a game from '87.07/28/2015 - 5:35pm
MattsworknameNo, but they were still bullied by feminist into pullign the game. Something I think rockstar should have sued over07/28/2015 - 5:33pm
NatirAndrew, people like Zoe Quinn, Anita Sarkeesian, and Brianna Wu have no affect on anything with regards to the gaming industry?07/28/2015 - 5:33pm
Andrew EisenI also don't consider petitions (even stupid nonsense ones like the one in question) to be bullying or threatening.07/28/2015 - 5:33pm
Andrew EisenTarget is not a developer or publisher.07/28/2015 - 5:31pm
MattsworknameAndrew: target asutraila, GTA 5. You were saying?07/28/2015 - 5:27pm
Andrew EisenNatir - Everything. I've been here since the beginning but we're not talking about ethics in games journalism right now. Did you really want to switch subjects?07/28/2015 - 5:25pm
Andrew EisenYes, how a game works, how characters are portrayed, how the controls operate, tone, themes, writing, etc. are all up to the devs. But that doesn't mean any of that is off limits to criticism by the people who consume it.07/28/2015 - 5:25pm
NatirAndrew, what do you exactly know about the GamerGate issue and the history behind it?07/28/2015 - 5:23pm
Andrew EisenYou're being absurd. No one is bullying or threatening developers and publishers.07/28/2015 - 5:23pm
MattsworknameAs far as im concerned, if feminist are allowed to bully and threaten retailers, developers, and publishers, then so should men, blacks asisans and jews. but thats NOT how it works, And thats why aniita and company are bullshit07/28/2015 - 5:22pm
NatirThe point is that there are tons of games that have women in lead roles. How someone is portrayed (woman or man), is up to the developers and writers of the story.07/28/2015 - 5:21pm
Andrew EisenDon't type angry. Your spelling is getting worse and you dropped an f-bomb which is why I deleted one of your comments.07/28/2015 - 5:21pm
MattsworknameMen do not get to decide how they are portrayed in games all the time, not do people of specific races. So why should women suddenly have the right to tell the industry how to portray them.07/28/2015 - 5:21pm
Andrew EisenI get to argue anything I damn well please, thank you very much. And again, no one's arguing that women don't exist in games. They're critiquing how they're generally portrayed.07/28/2015 - 5:20pm
Mattsworknameroles07/28/2015 - 5:20pm
 

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