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Thursday, Mar 28, 2024

‘Cars,’ Wrestling Games Help THQ to Strong Q3

Spurred by strong sales of games tied in with movies, wrestling and a cartoon show, THQ Inc. recorded a 32 percent increase in net profits for the third quarter of fiscal 2007. For the quarter ending Sept. 30, the Agoura Hills video game publisher had a net profit of $62 million, or $0.91 per diluted share, on revenues of $475.7 million. That is an increase over the $47 million, or $0.71 per diluted share, on revenue of $357.9 million for the third quarter in 2005. The company credits the increase to strong sales of its “Cars” game based on the Disney/Pixar film; “WWE Smackdown vs. Raw 2007;” “SpongeBob Square Pants;” and “Destroy All Humans! 2” THQ-owned games “Saints Row” and “Company of Heroes” also have outstanding sales, said President and CEO Brian Farrell. “We now own six-well established franchises, each with one million plus unit sales that we plan to sequel and extend well in the future,” Farrell said, in a statement. For the nine-month period ending Dec. 31, the company had a net profit of $61.5 million, or $0.92 per diluted share, on revenues of $854.7 million. That is a 51 percent increase over the $40.7 million, or $0.63 per diluted share, on revenues of $658.5 million for the same nine-month period in 2005. For the fourth quarter of fiscal 2007, the company forecasts net sales of $146 million.

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