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THQ Financial Report: Strong Overall Sales, Miserable Fourth Quarter

Author:
Jonathan Lester
Category:
News
Tags:
Financials, Games news, Homefront, THQ, uDraw

New uDraw Tablets Headed To PS3 & Xbox 360

THQ Financial Report: Strong Overall Sales, Miserable Fourth Quarter

After THQ suffered a stock crash due to Homefront's Metacritic average, we've been waiting for this year's financial report with baited breath... and it seems that the shareholders' panic was well and truly misplaced. Their annual sales have risen by a significant amount compared to last year's figures, but a miserable fourth quarter has contributed to an overall loss of US$136.1 million. The solution? More uDraw tablets, apparently. Full details below.

THQ have reported that net sales have risen from $665.3 million to $802.3 million in 2011, buoyed up by strong sales of Dawn Of War II and Homefront (which managed to ship 2.4 million units in its first week on sale). However, their fourth quarter sales dipped by $73 million dollars compared to last year's results. It's fairly bad news - but nowhere near as terrible as the shareholder reception to Homefront's 70% aggregate average made it appear.

CEO Brian Farrell believes that a strong lineup including Saints Row: The Third and the Warhammer 40,000 MMO will help to bolster next year's sales projections - and that an agressive focus on digital distribution will ensure that more money will end up in their pockets as opposed to retail.

We expect to generate significant growth, profitability and cash in fiscal 2012, driven by the latest installments of multi-million unit selling franchises, Saints Row, Red Faction, Warhammer 40,000, MX vs. ATV, UFC, WWE, and uDraw. We are creating a digital ecosystem for each of these games that will continue to keep consumers engaged and generate additional revenue opportunities beyond the initial retail sale. We also continue to aggressively invest in our digital initiatives, including online social and mobile offerings as well as our Warhammer 40,000: Dark Millennium Online MMO.

THQ has also announced that uDraw, the tablet-based art suite for the Wii, has sold over 1.7 million copies - and that the franchise is headed to the PS3 and Xbox 360.

We also continued to grow the uDraw franchise with the successful international debut of this compelling new tablet. Today, I am pleased to announce that we plan to bring exclusively designed uDraw GameTablets to Microsoft Xbox 360 and Sony PS3 platforms this holiday.

The new uDraw tablets will be unveiled at E3, and we'll be there to bring you the latest. [Businesswire]

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