RSS Feeds NGN on Facebook NGN on Twitter NGN on YouTube
Welcome, Guest. Login | Register | PW? ]
Header logo

THQ Reports Financial 2012 Results

Company has better-than-expected fourth quarter, brighter outlook

Posted on
THQ today reported financial results for the fourth quarter and fiscal year ended March 31, 2012.

Q4 net sales were $170.7 million, at the high end of expected $160 - $170 million. The company ended the quarter with $76.0 million in cash and equivalents. With its focused product plan, leaner cost structure, cash balance, and existing credit facility, THQ believes it has adequate resources to execute on its plan and deliver its strong multi-year pipeline of games.

We exceeded our initial fourth quarter guidance for net sales, earnings and cash position, driven by high quality core games with a significant digital component,” said THQ President and CEO Brian Farrell. “We have made significant changes to our business, and are on track to execute our strategy of delivering quality connected core gaming experiences, beginning with the sequel to Darksiders in August.”

The realignment plan, when fully realized in fiscal 2013, is expected to result in a reduction of expenditures totaling $180 million from the company’s annualized run rate. The company has reduced its future kids’ license commitments by approximately $30 million. In addition, the company is no longer manufacturing software and hardware for the uDraw GameTablet.

Saints Row is firmly established as THQ’s most successful owned-IP franchise, with 4.25 million units of Saints Row: The Third shipped. The game has generated the highest digital revenue of any console title in the company’s history.

WWE® ‘12 has shipped more than 2.2 million units since its launch in November 2011. The latest installment of the UFC franchise, UFC Undisputed 3, shipped 1.4 million units since its mid-February 2012 launch.

This year and into early 2013, the company plans to release Darksiders 2, Saints Row: The Third – Enter The Dominatrix, another WWE game, Company of Heroes 2, Metro Last Light, and South Park game.
Comments
blog comments powered by Disqus
Game Screens
Showfloor images from E3 2016

Conference Day at E3 2015

Conference Day at E3 2011

Conference Day at E3 2015

Online
There are currently 0 members and 99 guests on the website right now.
Who's On?
Activity in the past 10 minutes:
  • 99 guests
Best News this Month
Free PlayStation Plus games for July 2016
Action games and platformers up for grab this month

Posted 27 days ago
Halo 5 free this weekend
Multiplayer shooter is free for a limited time to celebrate release of Warzone Firefight
27 days ago
Resident Evil 4 coming to consoles in August
New HD port of classic game will debut late next month
19 days ago
Stellaris update released
New update titled Asimov brings changes to diplomacy, factions and more
29 days ago
Free Games with Gold for July 2016
Lead the survival of your clan, solve a few puzzles, or rescue Las Vegas
28 days ago
Latest Comments
Civilization VI pre-orders get early access to...
Jul 25, 2016 by dapperr
At least it's still free after 90 days. You had to buy...
No Man's Sky - Fight Trailer Video
Jul 21, 2016 by Ventara
So combat probably won't be the main draw ...
Xbox One S releases in early August
Jul 19, 2016 by chalkitdown1
Holding out for Project Scorpio, but this is a good...
Grow Up releases in August
Jul 18, 2016 by legacy
the original was fairly promising and I hope this sequel...
NES Classic Edition announced
Jul 14, 2016 by Harry
Well they have released and re-released mario and zelda...
New Game Network NGN Facebook NGN Twitter NGN Youtube NGN RSS