THQ Announces Q2’05 Results News

Following Activisionâ??s confirmation of their record-breaking Q2 2005 results yesterday, THQ have today unveiled their results for the same period.

In Q2, the company achieved net sales of $93.6 million with a net loss of $6.4 million, a drop of just over 25% in net sales compared with the same period last year, when the company announced net sales of $126.5 million and a net income of $3.6 million.

Comparing Q1/Q2 results from the fiscal year 2004 with 2005, THQ has experienced a loss in net sales of $30 million, from $224.6 million in 2004 to $184.5 million. The net income in the same six-month period dropped from a net profit $32â??000 in 2004, to a net loss of $10.3 million.

THQ remain optimistic however, and announcing the Q2 results, Brian Farrell, President and Chief Executive Officer at THQ, said:

"Our better-than-expected results this quarter were driven by the outstanding performance of new releases `Warhammer(R) 40,000: Dawn of War(TM)', `WWE(TM) Day of Reckoning(TM)', and `Full Spectrum Warrior(TM)' as well as strong catalog sales in our international territoriesâ?¦Both `Warhammer(R) 40,000: Dawn of War(TM)', our first release from recently acquired Relic Entertainment, and 'Full Spectrum Warrior(TM)' underscore our strategy of gaining share against the core gamer. We are extremely pleased with `Warhammer(R) 40,000: Dawn of War(TM)', which ranks as a top-selling title in multiple territories and we look forward to more ground-breaking games from Relic and our deep internal development studio organizationâ?¦Our recent successes in extending our relationships with Nickelodeon and Pixar and continued momentum in our product development organization position THQ for growth through the upcoming console transition and beyond."

THQ have also shared a little bit of information about some of the titles that will be released in the coming months, and one of the most interesting has to be the official confirmation that a PS2 version of the Xbox/PC smash Full Spectrum Warrior is to be released. The publisher will also be releasing Juiced, which was recently saved from the demise of Acclaim. Both titles are expected to be released within the first half of 2005 (Q4 2005, Q1 2006 fiscal years), and should help THQâ??s financial situation.

The recently signed deal with Nickelodeon should also help the company significantly.