Representatives from publisher THQ have announced that the company has regained compliance with Nasdaq's filing requirements and will continue to be listed on the Nasdaq Global Select Market.
THQ had been under
threat of delisting since November of last year when it was late in filing its quarterly results. As with a few other major publishers, the cause for the delay was an internal investigation, with independent legal counsel and outside accountants, into the company’s measurement dates for stock option grants issued in the past.
However, following recent news that the investigation turned up "
no evidence of misconduct," THQ filed its quarterly report on January 19, as well as its amended annual report.
Shortly prior to the filing, THQ raised its quarterly and annual outlook for the year from estimates of $400-425 million to $475 million, following better than expected sales of licensed franchises such as
Cars and
WWE SmackDown vs. Raw 2007.
The company expects to report its fiscal third quarter results before market open on Friday, February 2, 2007, and to host a conference call to discuss these results and the company's fiscal 2008 business outlook later that day.
