THQ financials 'better than expected' thanks to Saints Row

Publisher upwardly revises fourth quarter sales guidance, trims loss forecast


THQ said today it expects to report better than expected results for its fourth fiscal quarter ended March 31, 2012.

The company anticipates net sales of $160 million to $170 million, which is above its previous outlook of in the range of $130 million to $150 million.

THQ cited "continued strong sales" of Saints Row: The Third, which has shipped more than four million copies to date, higher than expected digital sales, and sllightly better than anticipatedsales of UFC Undisputed 3 for the upward revision.

It also expects a fiscal fourth quarter non-GAAP net loss per share in the range of $0.10 to $0.20, compared to its previous expectation of a net loss per share in the range of $0.35 to $0.50.

The company forecast a year-end cash balance of approximately $76 million, three times higher than its previous expectation, "due to better-than-expected operating results in the fourth quarter, as well as earlier-than-anticipated cash receipts".

It sounds like positive news for a firm that Strauss Zelnick, CEO of Grand Theft Auto and BioShock publisher Take-Two, recently predicted wouldn't be around in six months.

THQ's recent financial troubles have led to 100s of job cuts as well as product cancellations. Most recently, the firm said it was cutting 118 jobs across Darksiders 2 developer Vigil and Company of Heroes maker Relic as a result of plans to switch Warhammer 40,000: Dark Millenium from an MMO to a single player and multiplayer title.

Loading video...

More game videos from CVG: