– Company Bolsters Portfolio with Multi-Year License Agreements with WWE(R),DreamWorks Animation and Sony Pictures Consumer Products;Establishes New Original Core Game Franchise Darksiders(TM) –
AGOURA HILLS, Calif., Feb 03, 2010 (BUSINESS WIRE) — THQ Inc. (NASDAQ: THQI) today announced financial results for the three months ended December 31, 2009. Fiscal 2010 third quarter net sales were in line with the company’s guidance; the company did not provide earnings guidance for the quarter. The company also reaffirmed its outlook for net sales, profitability and cash position for the fiscal year ending March 31, 2010.
“We are pleased to report solid profitability in the third quarter and we are on track to achieve all of our fiscal 2010 financial targets that we announced at the beginning of the fiscal year,” said THQ President and CEO Brian Farrell. “This marks a significant turnaround for THQ in just one year and underscores the success of our focused strategy and reduced cost structure.”
For the fiscal third quarter ended December 31, 2009, THQ reported net sales of $356.7 million, compared with $357.3 million in the prior-year period. On a non-GAAP basis, for the three months ended December 31, 2009, the company reported net sales of $357.0 million, compared with $385.6 million a year ago.
For the three months ended December 31, 2009, the company reported net income of $542,000, or $0.01 per share, compared with a net loss of $191.8 million, or $2.86 per share, in the prior-year period. On a non-GAAP basis, the company reported net income of $26.6 million, or $0.35 per share, compared with a net loss of $9.6 million, or $0.14 per share, in the same period a year ago. Fiscal 2010 third quarter non-GAAP earnings per share would have been $0.39 if the company had not been required to use the “if-converted” method due to its August 2009 issuance of convertible senior notes.
For the nine months ended December 31, 2009, THQ reported net sales of $701.5 million, compared with $659.7 million in the prior-year period. On a non-GAAP basis, for the nine months ended December 31, 2009, the company reported net sales of $691.2 million, compared with $658.3 million a year ago.
For the nine months ended December 31, 2009, the company reported net income of $1.4 million, or $0.02 per share, compared with a net loss of $334.2 million, or $5.01 per share, in the prior-year period. On a non-GAAP basis, the company reported net income of $8.3 million, or $0.12 per share, compared with a net loss of $65.4 million, or $0.98 per share, in the same period a year ago.
A reconciliation of non-GAAP to GAAP results is provided in the accompanying financial tables.
Farrell said, “In addition to meeting our financial targets, we launched two new franchises, UFC and Darksiders, and significantly strengthened our balance sheet. We also secured new long-term license agreements and continued to migrate our brands to digital platforms in order to drive THQ’s growth over the next several years.”
Fiscal 2010 Third Quarter Highlights and Recent Developments
Market Share/Product Sales
THQ gained market share in the US in calendar 2009, ranking as the #4 independent publisher with a 4.7% share1.
UFC(R) 2009 Undisputed(TM) ranked among the top ten new video game releases in the US1 for calendar 2009.
The Biggest Loser was the #1 best-selling fitness game by an independent publisher in the US for the December quarter1.
New License Agreements
In December, THQ and WWE(R) entered into a new direct eight-year agreement granting THQ exclusive worldwide rights to develop and publish video games based on WWE content effective January 1, 2010.
In December, THQ announced multi-year, multi-property video game license agreements with DreamWorks Animation granting THQ exclusive worldwide rights to develop and publish video games based on DreamWorks Animation’s upcoming animated feature films Kung Fu Panda: The Kaboom of Doom and Puss in Boots, as well as the CG animated feature show, The Penguins of Madagascar.
On February 1, 2010, THQ announced two multi-year license agreements granting the company the exclusive worldwide rights to develop and publish video games based on Sony Pictures Consumer Products popular game show properties, “JEOPARDY!” and “Wheel of Fortune”.
Owned Franchises
In January, THQ launched new original game Darksiders(TM), which achieved an average Metacritic rating of 83 and delivered strong commercial sales, with shipments of approximately 1.2 million units in its first four weeks. The Darksiders franchise is now added to THQ’s growing portfolio of owned brands, including de Blob(TM), Drawn to Life(TM), MX vs ATV(TM), Red Faction(R) and Saints Row(R).
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AGOURA HILLS, Calif., Feb 03, 2010 (BUSINESS WIRE) — THQ Inc. (NASDAQ: THQI) today announced financial results for the three months ended December 31, 2009. Fiscal 2010 third quarter net sales were in line with the company’s guidance; the company did not provide earnings guidance for the quarter. The company also reaffirmed its outlook for net sales, profitability and cash position for the fiscal year ending March 31, 2010.
“We are pleased to report solid profitability in the third quarter and we are on track to achieve all of our fiscal 2010 financial targets that we announced at the beginning of the fiscal year,” said THQ President and CEO Brian Farrell. “This marks a significant turnaround for THQ in just one year and underscores the success of our focused strategy and reduced cost structure.”
For the fiscal third quarter ended December 31, 2009, THQ reported net sales of $356.7 million, compared with $357.3 million in the prior-year period. On a non-GAAP basis, for the three months ended December 31, 2009, the company reported net sales of $357.0 million, compared with $385.6 million a year ago.
For the three months ended December 31, 2009, the company reported net income of $542,000, or $0.01 per share, compared with a net loss of $191.8 million, or $2.86 per share, in the prior-year period. On a non-GAAP basis, the company reported net income of $26.6 million, or $0.35 per share, compared with a net loss of $9.6 million, or $0.14 per share, in the same period a year ago. Fiscal 2010 third quarter non-GAAP earnings per share would have been $0.39 if the company had not been required to use the “if-converted” method due to its August 2009 issuance of convertible senior notes.
For the nine months ended December 31, 2009, THQ reported net sales of $701.5 million, compared with $659.7 million in the prior-year period. On a non-GAAP basis, for the nine months ended December 31, 2009, the company reported net sales of $691.2 million, compared with $658.3 million a year ago.
For the nine months ended December 31, 2009, the company reported net income of $1.4 million, or $0.02 per share, compared with a net loss of $334.2 million, or $5.01 per share, in the prior-year period. On a non-GAAP basis, the company reported net income of $8.3 million, or $0.12 per share, compared with a net loss of $65.4 million, or $0.98 per share, in the same period a year ago.
A reconciliation of non-GAAP to GAAP results is provided in the accompanying financial tables.
Farrell said, “In addition to meeting our financial targets, we launched two new franchises, UFC and Darksiders, and significantly strengthened our balance sheet. We also secured new long-term license agreements and continued to migrate our brands to digital platforms in order to drive THQ’s growth over the next several years.”
Fiscal 2010 Third Quarter Highlights and Recent Developments
Market Share/Product Sales
THQ gained market share in the US in calendar 2009, ranking as the #4 independent publisher with a 4.7% share1.
UFC(R) 2009 Undisputed(TM) ranked among the top ten new video game releases in the US1 for calendar 2009.
The Biggest Loser was the #1 best-selling fitness game by an independent publisher in the US for the December quarter1.
New License Agreements
In December, THQ and WWE(R) entered into a new direct eight-year agreement granting THQ exclusive worldwide rights to develop and publish video games based on WWE content effective January 1, 2010.
In December, THQ announced multi-year, multi-property video game license agreements with DreamWorks Animation granting THQ exclusive worldwide rights to develop and publish video games based on DreamWorks Animation’s upcoming animated feature films Kung Fu Panda: The Kaboom of Doom and Puss in Boots, as well as the CG animated feature show, The Penguins of Madagascar.
On February 1, 2010, THQ announced two multi-year license agreements granting the company the exclusive worldwide rights to develop and publish video games based on Sony Pictures Consumer Products popular game show properties, “JEOPARDY!” and “Wheel of Fortune”.
Owned Franchises
In January, THQ launched new original game Darksiders(TM), which achieved an average Metacritic rating of 83 and delivered strong commercial sales, with shipments of approximately 1.2 million units in its first four weeks. The Darksiders franchise is now added to THQ’s growing portfolio of owned brands, including de Blob(TM), Drawn to Life(TM), MX vs ATV(TM), Red Faction(R) and Saints Row(R).
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Aber ihr dürft so lange PM´s auch gerne kürzen und aus ihnen zitieren, das liest ja kein Mensch