THQ sales slump for FY2011, looking to successful sequels in 2012
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THQ has announced its earnings for fiscal year 2011, which ended March 31, 2011. Stacked up against last year's report, the publisher's net sales on a GAAP basis were down from $899 million to $665 million, a drop of $234 million overall. Its net loss saw a dramatic increase from $9.6 million to $135 million, most likely attributable to a large marketing push for Homefront and ramp-up in the number of titles in development.
Brian Farrell, the company's president and CEO, decided to focus on the coming fiscal year in his statements, stating that "We expect to generate significant growth, profitability and cash in fiscal 2012, driven by the latest installments of multi-million unit selling franchises Saints Row, Red Faction, Warhammer 40,000, MX vs. ATV, UFC, WWE and uDraw."
Net sales for Q4 2011 also slumped, totaling $124 million, down $74 million from $198 million in Q4 2010. The company's biggest release for the quarter, Homefront, shipped 2.6 million copies before March 31 according to Farrell. The title had sold through one million units as of March 24.
Brian Farrell, the company's president and CEO, decided to focus on the coming fiscal year in his statements, stating that "We expect to generate significant growth, profitability and cash in fiscal 2012, driven by the latest installments of multi-million unit selling franchises Saints Row, Red Faction, Warhammer 40,000, MX vs. ATV, UFC, WWE and uDraw."
Net sales for Q4 2011 also slumped, totaling $124 million, down $74 million from $198 million in Q4 2010. The company's biggest release for the quarter, Homefront, shipped 2.6 million copies before March 31 according to Farrell. The title had sold through one million units as of March 24.
Reader Comments (12)
Posted: May 3rd 2011 8:06PM Ellimem said
Can't wait for Homefront 2...
Oh, wait.
Oh, wait.
Posted: May 3rd 2011 8:31PM Fakeassname said
hay THQ, here's a tip: don't ship half assed products.
ya know .... it, like, helps and stuff.
ya know .... it, like, helps and stuff.
Posted: May 3rd 2011 8:50PM emirabal said
Darksiders 2, insta buy, thats all
Posted: May 3rd 2011 9:54PM LGscoundrel said
Staged protests don't come cheap, I suppose.
Posted: May 3rd 2011 10:09PM wweiceman96V2 said
Lets hope they don't make "WWE SmackDown vs. RAW 2012" shitty this year...
Posted: May 3rd 2011 10:19PM evilkoala said
I hope THQ pulls out of this. I like their strategy. Homefront aside, I really like the focus on quality products.
Reminds me I need to go play Metro 2033.
Reminds me I need to go play Metro 2033.
Posted: May 3rd 2011 10:52PM southernpredator said
R.I.P THQ.
Posted: May 4th 2011 3:31AM fid said
relying on sequels to overcome slumping sales is no better than stealing the h design from chair entertainment for your new logo. it's a poor proposition to begin with.
you might try originality. check that, upon reviewing your product offerings, originality is certainly not part of your business ethic.
you might try originality. check that, upon reviewing your product offerings, originality is certainly not part of your business ethic.
Posted: May 4th 2011 4:36AM radioactivez0r said
New Saints Row and Red Faction should help, but I don't know that they are enough to carry the load.
Posted: May 4th 2011 6:39AM Bobus2 said
The need to get rid of that online pass crap too






