Thanks to strong sales of Red Faction: Guerrilla and UFC 2009, Janco Partners analyst Mike Hickey says that things are looking up for THQ.
“We are increasingly more optimistic on [THQ’s] near term financial prospects as our focus shifts from near term liquidity concerns to their upcoming game pipeline where buzz is beginning to build,” he said.
“Management continues to rebuild credibility through execution on planned cost cutting, increased financial transparency and recent / upcoming product releases including UFC 2009: Undisputed that meaningfully exceeded our initial expectations.”
Hickey figures that Marvel Super Hero Squad and MX vs. ATV Reflex will sell over 1 million units and Darksiders will move 1.575 million.
Fiscal year 2011’s Homefront, Warhammer 40K: Space Marines, and a possible Saints Row 3 should help get the company back in the mix, and he estimates that Q1 2010 revenues will hit $219 million.
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