News: THQ Profits Increase

THQ have had a good quarter, with profits up 37% from last year.

THQ have announced their results for the third quarter of the 2005 fiscal year. Net sales were up 37% to $400.3 million, from $293.1 million in the same period last year.

As well as this the net income more than doubled to reach $62.9 million, which equals $1.58 per diluted share.

THQ are proud to state that they believe the strong sales were due to several key games. The Incredibles, The SpongeBob SquarePants Movie and WWE SmackDown! vs. Raw. "Our performance during the holiday quarter far surpassed our original expectations in all major markets," said Brian Farrell, President and CEO, THQ. "The combination of sound strategic positioning for the holidays and solid execution in a highly competitive market drove our exceptionally strong results for the period."

As well as this THQ ran down some of the most important moments in the last year for them. As well as acquiring Blue Tongue Entertainment Limited they have gained the exclusive rights to create mobile phone games and other items for mobile phones for both the Star Wars and NBA franchises.

Brian Farrell continued to speak about the strong sales in a press release. "We are on track to post excellent results for fiscal 2005," said Farrell. "Our strong portfolio of both licensed and original properties and our world- class product development organization provide the foundation for THQ's long- term success."

For the forth quarter THQ is anticipating net sales of approximately $165 million and net sales of approximately $750 million for the fiscal year of 2005. For a more detailed report on their sales head over to their website.


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