THQ Reports Strong Full Year Results

Officials from THQ have announced the company’s results for the year ended March 31, a period which has seen record sales for the company. Revenues for the year rose by 37% to $641 million, with net income rising to $35.8 million, from just $2.5 million a year ago. The strong results were credited to the performance of a number of licensed franchised, primarily Finding Nemo, SpongeBob Squarepants and WWE Wrestling. Original projects such as Tak and the Power of Juju and MX Unleashed also performed well for the company, particularly in North America. For the next year the company has raised sales expectations from $655 million to $680 million. Earnings per share are now expected to be between $1.05 and $1.10, as against the previous projection of $0.94. Source: gamesindustry.biz