This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

THQ Swings to a Big Loss

SAN FRANCISCO - Video-games publisher THQ (THQI) posted wider-than-expected loss in the fourth quarter and offered weak outlook for the current quarter following what the company called a light product release schedule.

Net loss for the quarter was $34.5 million, or 52 cents a share, compared with net income of $6.5 million, or 9 cents a share the year before as a result of higher operating expenses related to marketing of Stuntman: Ignition and Juiced 2, both of which failed to catch on with consumers, and accelerated software amortization charges.

Excluding items, the company reported fourth quarter net loss of $24.8 million, or 37 cents a share, compared with net income of $10.1 million, or 15 cents a share a year ago.

Net sales for the quarter were $187 million, up from $172.1 million a year ago. The company reported revenue of $217.6 million, excluding the impact of deferred revenue from its game Frontlines: Fuel of War on both Microsoft's (MSFT) Xbox 360 and Windows PC platforms.

Analysts were expecting a loss of 6 cents a share on revenue of $200.62 million.

THQ shipped 6 million units of its game WWE SmackDown vs. Raw 2008 during fiscal 2008 and more than 1.5 million units of its off-road racing game, MX vs. ATV Untamed, the company said.

Shares of THQ fell $1.85, or 9.1%, to $18.50 in extended trading.

For the current quarter, THQ said it expects net sales in the range of approximately $115 million to $125 million and a net loss per share in the range of approximately 38 cents to 42 cents a share. The anticipated loss reflects a light product release schedule and the timing of expenses, said THQ.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs