THQ has reported its financial results for the third quarter ending December 31, 2011, resulting in a loss of 55.9 million, which is a huge increase from a loss of $14.9 million over the same period last year. Despite weeks of worrying news about the companies financial health, the publisher has revealed a busy release slate for fiscal year 2014.
Reports suggested that THQ’s 2014 line-up would be cancelled, but these financial results reveal that Dark Millenium Online is still scheduled for launch in ”fiscal 2014 and beyond” along with Homefront 2, inSANE and an unknown title from Assassin’s Creed creator Patrice Désilets. An unnamed title from Turtle Rock Studio is also listed.
Saints Row: The Third achieved impressive numbers for THQ, with the title shipping 3.8 million units since launch. WWE 12 managed just over half of that, with 2 million units shipped.
”Saints Row: The Third and WWE 12 demonstrate the strengths of THQ’s core gaming capabilities. These titles performed at or better than the expectations we shared during our last investor conference call, driven by favorable critical reviews, community engagement and outstanding marketing efforts,” said Brian Farrell, THQ President and Chief Executive Officer. ”Sales of the uDraw GameTablet and related software, and other titles in the kids, family and casual category were far weaker than anticipated, substantially reducing our financial results for the quarter.”
”We have since concluded an extensive review of our operations to realign our business, focusing on our key franchises with the most potential,” continued Farrell. ”We are implementing a plan to bring costs in line with our lower anticipated level of revenue. With our focused product plan, leaner cost structure, cash balance, and existing credit facility, we believe the company has adequate resources to execute on our plan and deliver on our strong multi-year pipeline of games.”
THQ has a number of titles scheduled for release between 2012 – 2013, including Darksiders II in June 2012, which will have double the amount of marketing spend over the first game, as THQ feels that a poor marketing budget lead to a loss of sales.
South Park: The Game, a collaboration between THQ, South Park Digital Studios and Obsidian Entertainment, is scheduled for release in Q3 FY13. There’s also a new WWE game set for the same period, along with Metro: Last Light and Devil’s Third in Q4 FY13.
Two unannounced titles are in development for 2013, and a further four unannounced titles are scheduled for 2014.
