NEWS - Saturday, November 3, 2007
THQ Posts Q2 Net Loss
THQ net sales were $229.3 million, in line with guidance which was revised in October. The Agoura Hills, Calif.-based publisher lowered its fiscal Q2 net sales guidance to $229 million from $240 million because of lower-than-expected sales of Stuntman: Ignition and Juiced 2. The company said that the two titles still drove sales during the period, along with the movie game Ratatouille. The company reported net loss of $7 million, down from the previous year’s net income of $11.6 million for the comparable quarter. THQ president and CEO Brian Farrell said he was “disappointed” with the revised financial guidance for the quarter, but he expects a “solid” second half. "We are well positioned to increase sales and profitability in fiscal 2009, with a solid product slate, including Disney/Pixar’s Wall-E, Red Faction 3, Saints Row 2 and our first games based on the UFC,” Farrell added. THQ reaffirmed guidance for the remainder of the year. Fiscal year revenues are expected to be $ 1.06 billion, third quarter is expected to be $490 million and fourth quarter at $240 million.Source: http://www.next-gen.biz
