informa
2 min read
article

THQ Boasts 'Successful Turnaround' As Losses Narrow Drastically

UFC 2009: Undisputed publisher THQ on Wednesday boasted a "successful turnaround" for its full fiscal year, which saw revenues rise 8 percent to $899.1 million, and losses narrow substantially.
Red Faction and UFC Undisputed publisher THQ said Wednesday that it completed a "successful turnaround" for the fiscal year, following a previous year that saw massive losses and substantial job cuts. THQ attributed its turnaround to strong sales of games including UFC 2009: Undisputed and WWE SmackDown Vs. Raw 2010, each of which shipped 4 million units each, THQ said. Metacritic scores for the publisher were also up, with review scores for THQ's core-focused games averaging 82, up from 80 last year and 72 the year before that. For the fiscal year 2010 ended March 31, THQ reported revenues of $899.1 million, up 8 percent year-on-year. Net loss for the year was $9 million, a notable improvement over the $431.1 million loss a year prior. THQ CEO Brian Farrell said the company exceeded its financial and operating targets. "We have streamlined our cost structure, which will provide us with increased operating leverage in our model as our business continues to grow," he added. Other major core THQ games during the year included the new property Darksiders and Red Faction: Guerrilla. "We are very excited about our development pipeline and how we've positioned THQ to capitalize on both traditional and digital gaming opportunities going forward," said Farrell. The performance of new titles helped THQ gain market share during the year, the publisher said. In the U.S., the company said it is ranked as the number four independent publisher with a 4.9 percent share, citing NPD Group data. THQ also said that it's also ranked fourth worldwide with a 4.4 percent overall share. For the fiscal fourth quarter, THQ reported a 16 percent rise in revenues to $197.7 million. Net loss for the quarter was $10.4 million, versus a $96.9 million net loss from the same quarter a year ago. For the current fiscal year, THQ expects non-GAAP net sales to be between $905 million to $920 million, a 2 to 4 percent increase over fiscal 2010. Earnings per share are projected between 25 and 30 cents, about 30 to 60 percent higher than this most recent year, thanks to a lower cost structure.

Latest Jobs

Studio Pixanoh LLC

Los Angeles, California
05.20.22
Combat Designer

Treyarch

Playa Vista, California or Vancouver, BC
05.20.22
AI Engineer

Question

Remote
05.20.22
Lead Level Designer (South Park)

Remedy Entertainment

Helsinki Metropolitan Area, Finland
05.23.22
Rigging Artist
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more