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
Conference Days at E3 2016

Conference Day at E3 2015

Show floor images from E3 2012

Conference Day at E3 2013

Online
There is currently 1 member and 133 guests on the website right now.
Who's On?
Activity in the past 10 minutes:
Best News this Month
The Banner Saga 2 adds Survival Mode
New combat focused mode released as free DLC

Posted 4 days ago
Conan Exiles coming to Early Access in September
Open-world survival game will debut on PC this Fall
17 days ago
American Truck Simulator to boost its map size
Developers will increase the game world scaling for longer drives
4 days ago
Resident Evil 5 dated for PS4 and Xbox One
Updated version of survival game arriving on consoles in June
27 days ago
Watch Dogs 2 coming this November
Open world game will feature more hacking, new setting and protagonist
20 days ago
Latest Comments
The Banner Saga 2 adds Survival Mode
Jun 27, 2016 by Tim Reid
cool of them to give this out for free but outside the...
Best Games of E3 2016
Jun 27, 2016 by Hazaku
Hey at least half of these games will at least be out...
Best Games of E3 2016
Jun 27, 2016 by fvxc
I'd like all of these please
Xbox One Program Updates - E3 2016
Jun 24, 2016 by shane
Standard Kinect is pretty good but with Cortana you you...
Xbox One Program Updates - E3 2016
Jun 24, 2016 by JamesJay
nice i look forward to it, i thought the kinect voice...
New Game Network NGN Facebook NGN Twitter NGN Youtube NGN RSS