Record Year For THQ News
Jon Wilcox
05/05/2005
THQ announces record results for Q4 and fiscal year 2005…
Itâs been a good twelve months for publisher THQ as the company today announces record results for the end of fiscal year 2005. Net sales for the year, which ended on March 31st 2005, saw the company experience an 18% increase on the year from $640.8 million in fiscal year 2004 to $756.7 million. Net income for the year also increased quite dramatically from $35.8 million in 2004 to $62.8 million in FY2005. THQ also reported on good results for the fourth quarter of fiscal year 2005 with an increase in net sales of 40% from $123.1 million in Q4 2004 to $171.9 million.
Confirming the results, Brian Farrell, president and CEO, THQ said, "THQ's record growth in fiscal 2005 demonstrated our success in increasing sales of games based on our three core brands, Disney/Pixar, Nickelodeon and World Wrestling Entertainment, and also delivering strong performance from internally developed titles targeted to avid gamers, such as MX vs. ATV Unleashed, The Punisher and Warhammer 40,000: Dawn of Warâ¦THQ commands a position of strength from which to capitalize on both the huge installed base of current hardware and the upcoming launch of next-generation consoles. With some of the best mass-market brands, more than 900 people in our internal studio organization, a growing international sales team and more than $330 million in cash and short-term investments, THQ is poised to expand our leadership position in the video game industry."
THQ have also announced that six of their releases broke through the 1 million sales barrier, although five of the titles actually come from licences:
- The Incredibles â“ more than 4.5 million units
- The Spongebob Squarepants Movie â“ more than 2.5 million units
- WWE Smackdown vs RAW â“ more than 2 million units
- Finding Nemo â“ more than 2 million units
- Spongbob Squarepants: Battle for Bikini Bottom â“ more than 1 million units
- Full Spectrum Warrior â“ more than 1 million units
THQ arenât about rest on their laurels in the coming twlelve months as Farrell went on to comment that, "Our biggest franchises from our record-breaking year return in fiscal 2006: WWE SmackDown!, SpongeBob SquarePants, The Incredibles, Full Spectrum Warrior, Tak and Warhammer 40,000: Dawn of Warâ¦In addition, consistent with our goal of increasing share against the core gamer, we plan to launch a select number of exciting new original properties including Destroy All Humans!, Juiced and two new original franchises for Microsoft's next-generation Xbox platform. We also expect to benefit from extending our brands onto the new handheld platforms and doubling our wireless revenues as we roll out Star Wars and other compelling content."
Weâll have more on THQâs line-up for the coming months shortly...