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THQ Revenues, Profits Up in Q2

THQ announced Q2 financial results, posting a 43 percent increase in net income over last year, to $4.9 million (12 cents per share).
Revenue was up 55 percent over last year, to $85.8 million. These results exclude a previously announced non-cash charge of $2.6 million (7 cents per share), for the discontinuation of the Network Interactive Sports (NIS) online joint venture in the United Kingdom. THQ also increased its 2002 guidance for revenue to $515 million to $525 million ($1.24 to $1.31 per share). THQ cited WWF Wrestlemania X8 for Gamecube and Scooby-Doo!: Night of 100 Frights for the PS2 as the company's best-selling games for the quarter. Other big sellers included Star Wars Episode II: Attack of the Clones, Spirit: Stallion of the Cimmaron and Sonic Advance for the Game Boy Advance; and WWF SmackDown! 2: Know Your Role, Scooby Doo, and Cyber Chase and Sponge Bob Square Pants: Super Sponge for the PSX.

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