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

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 2014

E3 Conferences pics

Conference Day at E3 2015

Call of Duty: Ghosts - Multiplayer Reveal Event

Online
There are currently 0 members and 44 guests on the website right now.
Who's On?
Activity in the past 10 minutes:
  • 44 guests
Best News this Month
Ubisoft reveals For Honor
New melee action game pits three armies against one another

Posted 19 days ago
Project Cars sells one million units
Sim racing title performing well in worldwide sales
29 days ago
Free Games with Gold for July 2015
Puzzles, shooters, and open world pirate adventure
9 days ago
NBA 2K16 offers three cover players
MyCareer mode to be written and directed by Spike Lee
29 days ago
Microsoft announces partnership with Oculus
Xbox controller and Windows adapter bundled with Oculus Rift
23 days ago
Latest Comments
Fallout 4 Preview - E3 2015
Jul 4, 2015 by Nechrol
Here's the complete audio file. If you start listening...
Fallout 4 Preview - E3 2015
Jul 3, 2015 by Rewined
Doubt it, otherwise the session video would be posted...
Fallout 4 Preview - E3 2015
Jul 3, 2015 by FlamingSnot
Do you have a recording of this supposed slip of eight...
Best Games of E3 2015
Jul 2, 2015 by JamesJay
Lots of great games to look forward to!
Destiny: The Taken King Preview - E3 2015
Jun 30, 2015 by Josh Hinke
I think adding a dog fighting element would also be cool....
Popular News
PC
XCOM 2 announced
34 days ago
PC
Cities XXL out now
150 days ago
New Game Network NGN Facebook NGN Twitter NGN Youtube NGN RSS