AGOURA HILLS, Calif. ( TheStreet) -- Video game maker THQ (THQI) lowered its first-quarter and full-year guidance to reflect lower-than-anticipated sales of its "UFC Undisputed 2010" game and the strengthening U.S. dollar.
THQ now expects to report full-year non-GAAP net sales in the range of $845 million to $865 million and roughly breakeven non-GAAP per-share earnings. Previously, the company expected full-year non-GAAP net sales in the range of $905 million to $920 million and non-GAAP earnings per share in the range of 25 cents to 30 cents.
Analysts, on average, were expecting the company to report full-year profit of 31 cents a share, excluding items, on revenue of $913.4 million.For the first quarter, the company expects non-GAAP net sales to be between $155 million to $165 million, which is below the company's previous outlook of non-GAAP net sales of $190 million to $200 million. The company also expects a first-quarter non-GAAP loss per share in the range of 20 cents to 30 cents, compared with its previous outlook of breakeven. Analysts were expecting earnings of a penny a share, excluding items, on revenue of $203.2 million. Still, the company sounded upbeat about its prospects, citing "a strong pipeline" scheduled for release over the next three years.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV