More importantly, over the last 8 months, we have taken a number of steps to transform THQ and put it back on the path to profitability and growth. Since the restructuring that we began in January, we have exited nonperforming businesses, shed underperforming licenses and discontinued titles and products that did not fit our strategy or profitability targets.We also significantly reduced costs and headcount in our corporate and global publishing organizations. As part of these efforts, we streamlined our product portfolio to focus on those titles we believe can achieve robust profitability and create long-term shareholder value. In the last 8 months, we have reduced our annual licensing commitments by $32 million and our annualized product development spend, selling and marketing expense and G&A by approximately $180 million, creating significantly better operating leverage going forward.
THQ Management Discusses Q1 2013 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts