New IPs Help THQ Exceed Expectations News
Jon Wilcox
04/08/2005
Net sales exceed forecasts although the US` second biggest independent publisher still reports a loss...
THQ has today unveiled its first quarter results for the 2006 fiscal year (ending June 30th 2005), announcing that Net sales of $158.0 million surpassed forecasts of between $135.0 million and $140.0 million. Even though the companyâs sales increased, primarily through new IPs Destroy All Humans! and Juiced, THQ still recorded a net loss of $4.0 million. During the same period in FY2005, THQ recorded net sales of $88.2 million and a net loss of $3.9 million.
âTo date, THQ has shipped more than one million units of each of our new original properties Destroy All Humans! and Juiced. The success of these new titles significantly expands THQ's portfolio of predictable, recurring franchises," said Brian Farrell, President and CEO, THQ. "We plan to continue to leverage these brands on current and next-generation consoles."
Farrell added, "Fiscal 2006 is off to a great start with the performance of two new original properties. Our release schedule over the next few quarters will feature such proven brands as WWETM SmackDown!TM, SpongeBob SquarePantsTM, The Incredibles, Full Spectrum WarriorTM, Tak and Warhammer® 40,000: Dawn of WarTM."
THQ has also released forecasts for Q2 (ending September 30th 2005), with expectations of net sales reaching $125 million, and end of FY2006, where the company forecasts a net sales of $750 million.
Weâll have more on THQâs future line-up shortlyâ¦