Slow Sales Cut THQ’s Revenues and Earnings

The company’s net income fell to $860,000 on revenues of $59.33 million in the first quarter, down sharply from income of $3.95 million on revenues of $70.39 in the same period one year ago. Earnings per share fell to 4 cent a share from last year’s 18 cents per share. THQ cited slow sales and a cyclical lull as the chief causes of its lowered earnings.