2009 THQ year-to-date sales up 22 percent over 2008

by Richard Mitchell { Nov 4th 2009 at 7:01PM }

THQ has released its financial results for the second quarter of its fiscal 2010, which ended September 30, 2009, and things are mostly looking up. The company lost money this quarter compared to the same period last year, posting non-GAAP net sales of $100.38 million, down from $151.62 million during Q2 of its fiscal 2009. However sales are up for the entire year, with THQ posting net sales of $334.28 million for its fiscal 2010 thus far, up from $272.69 million last year, a 22 percent increase.

THQ blamed the second quarter dip on a lack of new titles, though it hopes to have a good holiday season thanks to a "strong mass-market line-up" including WWE Smackdown vs RAW 2010 and MX vs ATV Reflex. The company was also sure to mention its triumph in the JAKKS Pacific lawsuit, which resulted in a much lower payment to the longtime WWE series developer (though the scuffle is still haunting the publisher).

Finally, THQ promised to prevail in its march to profitability by the end of fiscal 2010. Though the company expects its Q3 2010 to be 5-10 percent lower than the same period last year, it predicts Q4 sales will exceed those of last year. A reasonable hope, given that all of THQ's major releases drop in its fiscal Q4, including Darksiders, Metro 2033 and the Dawn of War 2 expansion, Chaos Rising.

Tags: business, financial, Financial-Results, thq

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Reader Comments (Page 1 of 1)

CzAr @ Nov 4th 2009 7:04PM

Keep'on trucking THQ.

J.Goodwin @ Nov 4th 2009 7:24PM

GAAP is so last year. All the popular companies are moving to IFRS.

Confucius @ Nov 4th 2009 7:38PM

IMO most of THQ's games are made for the 12-15 year old demographic

Jose [Steam & PSN: Assmar] @ Nov 4th 2009 7:30PM

I'm sooooooo glad we have WWE and MX Vs ATV and all those other shitty acronym games to subsidize my Dawn of War II. Keep on buying that shit for your kids, parents!

OmegaX @ Nov 4th 2009 7:34PM

UFC Undisputed 2009 was a huge seller for them. I hear they are already hard at work on a sequel as well.

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