THQ Posted $15.4 Million In Net Income On Sales Of $133.7 Million, Producing Four New Games Internally

Posted on Aug 7 2012 - 4:50am by Editorial Staff

THQ has announced its first quarter 2013 results with Net Sales – GAAP of $133.7 million, Net Sales – Non-GAAP of $38.5 million. The first of its fiscal 2013, posting $15.4 million in net income on sales of $133.7 million. During the fiscal first quarter, the company recorded approximately $4.5 million in non-GAAP business realignment expenses, which include cash costs of approximately $0.7 million related to severance and other employee-related costs, and non-cash impairment charges of approximately $4.3 million related to decisions made to cancel or reconfigure titles.

“We have made significant progress reshaping the company. With the changes implemented over the last several months, we are in a much better position today to deliver on our pipeline of games, beginning with Darksiders® II, which launches next week in North America,” said THQ Chairman and CEO Brian Farrell.

These four games exist in addition to titles that are known to be in development at THQ’s internal studios:

  • Relic Entertainment is currently working on Company of Heroes 2
  • Saints Row: Enter the Dominatrix
  • An unannounced project led by former Assassin’s Creed creative director Patrice Desilets is in progress at THQ Montreal
  • Vigil is building Warhammer 40,000: Dark Millennium, which THQ “refocused” in March

(Image Source: Flickr)

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.