THQ Lowers Financial Projections and Delays Games

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THQ has lowered its guidance for its fiscal second quarter ended September 30, 2007 and its full year ending March 31, 2008.
THQ is doing so due to lower than expected sales in the second quarter on two titles and due to several games whose release has been pushed back to the next fiscal year.

During the second quarter, both Stuntman: Ignition and Juiced 2: Hot Import Nights didn't sell as well as expected (and also required more price protection for retailers than THQ anticipated). As a result, THQ expects a second quarter net loss of $0.11 per share. That's probably a solid bet given that the quarter is already over, although THQ hasn't released the final results for the quarter.

THQ has also postponed several titles that it previously expected to ship in this fiscal year. Destroy All Humans!: Path of the Furon for the Xbox 360 and PlayStation 3, Frontlines: Fuel of War for the PlayStation 3 and de Blob for the Wii and DS will all not reach stores until sometime after March 31, 2008.

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This page contains a single entry by Editor published on October 22, 2007 5:05 PM.

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