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THQ Widens Loss in Q4

Video game publisher THQ Inc. widened its net loss in the fourth quarter compared to the same period a year ago. The Agoura Hills-based company reported a loss of $53.2 million, or $0.78 per diluted share, on revenue of $184.2 million for the quarter ending March 31. For the same period in 2011, the company reported net loss of $44 million, or $0.65 per diluted share, on revenue of $124.2 million. For the full fiscal year, THQ reported a net loss of $239.9 million, or $3.51 per diluted share, on revenue of $830.8 million. For the previous fiscal year, the company reported a net loss of $136 million, or $2 per diluted share, on revenue of $665.3 million. The earnings report brings to a close a poor year for THQ during which the company laid off employees, restructured itself to focus on core games for consoles and digital distribution, and exited the licensed children’s console game business. Creating core games with a digital component is the blueprint for the future of the company, President and CEO Brian Farrell said. “We have made significant changes to our business, and are on track to execute our strategy of delivering quality connected core gaming experiences,” Farrell said in a prepared statement. Shares of THQ closed up at $0.68. Mark R. Madler

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