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Increased Costs Force THQ Loss On Higher Revenue

Despite increased revenue, higher costs forced THQ to post a quarterly loss of $3.6 million.
Profits for the same quarter last year were $2.3 million, but even a revenue climb from $85.8 million a year ago to $98.1 million this year could not offset the publisher’s increased costs, which included a $1 million charge for the cancellation of an undisclosed game. Company officials did not expect such cost variances to persist throughout the remainder of the year. Finding Nemo, based on the hit Pixar movie, was a highlight for THQ’s quarterly lineup, selling over a million copies. THQ is part of the Securities and Exchange Commission’s investigation into the revenue accounting of several publicly traded videogame publishers.

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