News Summary for Monday, August 6, 2012
THQ announced positive net income today (although the company is deeply in the midst of a restructuring), and last week Namco Bandai announced its own financial results. Read on for more details...
- THQ reported the results of its first fiscal quarter ended June 30, 2012. For the quarter, THQ reported net income of $15.385 million, compared to a net loss in the same quarter the previous year of $38.445 million. The company also reported non-GAAP charges of $4.5 million related to restructuring, mostly consisting of impairment charges related to cancelling games (including the Guillermo Del Toro project, Insane).
- Last week, Namco Bandai Games announced its financial results for the first quarter of its fiscal year. For the quarter ended June 30, 2012, Namco Bandai reported net income of ¥10.225 billion (around $131 million), compared to net income of ¥3.248 billion in the same quarter the previous year. The company's Game Software category reported sales of ¥13.8 billion during the quarter compared to ¥10.4 billion in the same quarter the prior year. During the quarter, the company's best-selling game was Soul Calibur V (680,000 units), followed by Naruto Ultimate Ninja Storm Generations (440,000).