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| THQ Reports Record Second Quarter Net Sales THQ Inc. announced that continued strong global sales of its original franchises and family titles drove 48% year-over-year net sales growth and a narrower-than-expected loss for the second quarter of fiscal 2006. For the three months ended September 30, 2005, THQ reported record second quarter net sales of $142.7 million and a net loss of $1.4 million, or $0.02 per share. These results exceeded the company's previous guidance of net sales of $125 million and a loss of $0.07 per share. For the same period a year ago, THQ reported net sales of $96.3 million and a net loss of $6.4 million, or $0.11 per share. For the six months ended September 30, 2005, net sales grew 63% to $300.7 million from $184.5 million for the same period a year ago. THQ's net loss was $5.4 million, or $0.09 per share, compared with a net loss of $10.3 million, or $0.18 per share, for the first six months of fiscal 2005. Fiscal 2006 Guidance THQ reaffirmed previous earnings guidance and increased net sales guidance for the full fiscal year ending March 31, 2006, and provided initial guidance for the fiscal third quarter ending December 31, 2005: For the fiscal year ending March 31, 2006, THQ expects net sales of approximately $770 million and net income of approximately $0.67 per diluted share For the third quarter of fiscal 2006, the company expects net sales of approximately $320 million and net income of about $0.65 per diluted share All per share amounts reflect a 3-for-2 stock split effected on September 1, 2005. Recent Developments THQ was the #2 independent video game software publisher in North America, the UK and Australia/New Zealand for the first nine months of calendar 2005, according to the NPD Group, Inc., Chart Track and GfK, respectively THQ announced an extension of its new JuicedTM franchise on the PlayStation Portable (PSPTM) handheld entertainment system, scheduled for spring 2006 THQ's flagship titles from holiday 2004:The Incredibles, The SpongeBob SquarePantsTM Movie and WWE SmackDown vs. Raw each achieved "Greatest Hits" status during the second quarter THQ added 25 years of product, online and marketing experience to its management team, naming Kelly Flock executive vice president of worldwide publishing THQ appointed Jeff Griffiths, former president and CEO of Electronics Boutique, to its board of directors Microsoft's recent X05 event highlighted three of THQ's upcoming titles for the Xbox 360TM: MotoGPTM Ultimate Racing Technology 2006, Saint's RowTM and The OutfitTM, and each garnered critical acclaim from the enthusiast press write your comments about the article :: © 2005 Game News :: home page |