THQ records loss for latest quarter

Posted May 6th 2008 5:30PM by John Callaham
Filed under: Biz

On Monday we heard from Midway on their latest financial numbers. Today it's THQ's turn to the plate as it revealed its latest financial results for both its latest quarter and its full 2008 fiscal year that ended on March 31 For their last quarter the publisher recorded $187 million in revenue, up slightly from $172.1 million for the same period a year ago. However, THQ recorded a loss of $34.5 million for the quarter, which is a much higher loss than the $6.5 million that it got for the same period a year ago. THQ stated that while some games like Frontlines: Fuel of War either met or exceeded their sales expectations, other previously released games did not meet their expectations.

For the full year THQ had revenues of $1.035 billion, up slightly from revenues of $1.026 billion for the fiscal 2007 time frame. THQ had a loss of $35.3 million for the full fiscal year, down from a profit of $68 million for the fiscal 2007 year. THQ has already taken steps to cut costs, shuttering a development studio and canceling games late last year. it is also rumored to have laid off workers at two more internal development studios. THQ's upcoming game line-up for the PC includes the third person shooter Red Faction: Guerrilla this fall and in 2008 the highly anticipated RTS sequel Warhammer 40,000: Dawn of War II from developer Relic.

Tags: concrete-games, dawn-of-war-ii, Rainbow-studios, Red-Faction-Guerrilla, Relic, Sandblast-games, THQ, Warhammer-40-dawn-of-war-ii