THQ Results Highlight Strong Quarter, Higher Sales

Publisher THQ has reported a strong second quarter in its latest preliminary earnings report, with revenue up 68% at $240.2 million from the previous year's $142.7 million, driven by its latest licensed and original IP including Saints Row, Company of Heroes and Cars.

THQ reported a second quarter profit of $12.6 million, up from the previous year's net loss of $1.4 million. Its revenue for the 6 months ending September 30th saw a rise to $379 million, up from $300.7 million for the prior year. Its profit for the first half of fiscal 2007 was $518,000, a heavy turnaround from the prior year's $5.4 million net loss.

The company's quarterly highlights include Saints Row achieving the top sales slot in September according to NPD sales data, with more than a million units shipped for the quarter. It also reported the number one slot in the UK for the quarter for its licensed property, Disney/Pixar's Cars, with more than four million units shipped. Similarly, its Company of Heroes achieved the top PC sales charts in September. As of now, THQ is the top third party publisher for Nintendo DS titles.

The publisher is looking forward to a strong holiday sales season across all current and new next-gen platforms, with WWE SmackDown vs. Raw 2007, Cars, Bratz Forever Diamondz, Destroy All Humans! 2, The Sopranos, and Warhammer 40,000: Dawn of War: Dark Crusade being released variously on the Xbox 360 and the Wii, and expects sales of Saints Row and Company of Heroes to continue throughout the holiday season.

THQ has also reported that it expects net sales for the fiscal 2007 year to reach a range of $925 million to $975 million. It has also reported that it anticipates third quarter sales between $400 and $425 million, and fourth quarter sales of $145 million to $170 million.

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