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

Posted by Mister-X on November 4th, 2009 at 08:01pm

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.

2009 THQ year-to-date sales up 22 percent over 2008 originally appeared on Joystiq on Wed, 04 Nov 2009 19:01:00 EST. Please see our terms for use of feeds.

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Tags: business, financial, financial-results, thq

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