Tag Archives: thq q2 financals 2009
Thu, Nov 06, 2008 | 06:26 GMT
In THQ’s fairly horrible Q2 earnings report yesterday was news that Red Faction: Guerilla and Darksiders were both being pushed back into the next fiscal year.
That means both games will ship in the 12 months ending March 31, 2010.
The titles were both expected to hit before the end of the current financial year, ending March 31, 2009.
THQ said yesterday it’s to embark on a major restructuring after posting a heavy loss.
Wed, Nov 05, 2008 | 22:04 GMT
Wed, Nov 05, 2008 | 21:55 GMT
THQ’s issued dismal results for its fiscal second-quarter, posting a net loss of $115.3 million, or $1.73 a share, a worsened position from $7 million, or 11 cents a share in the same period a year earlier.
Net sales for the quarter ended in September fell to $164.8 million from $229.3 million.
THQ said earlier this week that it was to axe five studios.
The firm has just confirmed that 250 people are to lose their jobs, a total of around 17 percent of its total workforce.
The cuts will save $100 million on development in the next fiscal year, THQ said.
“We have made substantial progress in improving product quality and innovation, as evidenced by recent shipments of several well-reviewed games including de Blob and Saints Row 2,” said company boss Brian Farrell.
“We are aligning our business to be more competitive in key consumer segments and address the current business environment. We expect the combination of a much more focused and competitive product line with a more efficient cost structure to put THQ back on the path to growth and profitability in fiscal year 2010.”
Press release after the break.