THQ Losses Widen
For the first quarter ended June 30, Wall-E game publisher THQ posted higher net sales and wider net losses year-on-year, the firm said Wednesday.
Sales for the quarter were Kris Graft37.6 million, up from Kris Graft04.5 million.
Net loss was $27.2 million, an increase from the comparable quarter"s $9.3 million.
THQ said in a conference call that while the movie tie-in Wall-E has sold better than the last Disney/Pixar movie-game, Ratatouille, Wall-E has still not met expectations.
Wall-E has shipped around 1 million in North America since its release in late June.
THQ CEO Brian Farrell said in a statement, "During the quarter, we also took steps to re-align our cost structure and we remain on track to generate improved operating leverage.
"We are focused on generating growth at both the top and bottom line, and delivering improved value for our shareholders."
THQ expects fiscal Q2 sales to be between Kris Graft60 million to Kris Graft70 million and a net loss per share in the range of THQ Losses Widen.35 to THQ Losses Widen.39.
THQ adjusted its fiscal year sales expectations to be in the range of Kris Graft.15 billion to Kris Graft.18 billion, down from previous estimates due to Wall-E"s performance.
My Favorites
Print Article
E-mail
Comment


