|For the Three Months|
|(in millions, except per share data)||Ended June 30,|
|Net Sales - GAAP||$||133.7||$||195.2|
|Net Sales - Non-GAAP||$||38.5||$||141.2|
|Net Income (Loss) - GAAP||$||15.4||$||(38.4||)|
|Net Loss - Non-GAAP||$||(23.3||)||$||(64.4||)|
|Diluted Earnings (Loss) Per Share - GAAP||$||2.00||$||(5.63||)|
|Diluted Loss Per Share - Non-GAAP||$||(3.41||)||$||(9.42||)|
- Q1 Non-GAAP net sales were $38.5 million, above guidance of $25 - $30 million.
- Q1 Non-GAAP net loss per share was ($3.41), better than guidance of ($4.00) – ($4.50). Net loss per share amounts for the current and prior period were adjusted for the 1-for-10 reverse split of the company’s common stock effected on July 5, 2012.
- A reconciliation of GAAP to non-GAAP results is provided in the accompanying financial tables, and a supplemental consolidated reconciliation can be found at http://investor.thq.com.
- THQ announced it would transform development of the standalone expansion Saints Row ® : The Third – Enter the Dominatrix™ into a full-fledged, full-priced sequel, with far greater potential to generate stronger results over the long term. The sequel is currently scheduled for release in calendar year 2013.
- The company’s digital revenues for the first quarter of fiscal 2013 were $13.4 million, or 35 percent of non-GAAP net sales.
- THQ’s line-up featured at the Electronic Entertainment Expo ("E3") garnered 29 awards from more than 67 nominations across the portfolio for upcoming titles such as Darksiders II, Company of Heroes ® 2, Metro: Last Light and South Park ™ : The Stick of Truth ™ , which won a prestigious Game Critics Award “Best of E3” for best RPG.
- The company transferred its license to develop future video games based on the Ultimate Fighting Championship ® (UFC), which resulted in a cash payment to THQ by the licensor. THQ will continue to publish its existing UFC console and mobile titles through March 31, 2013.
|Darksiders® II||Console, PC||August 2012|
|WWE® ’13||Console||October 2012|
|Company of Heroes® 2||PC||Q4 FY13|
|Metro: Last Light||Console, PC||Q4 FY13|
|South Park™: The Stick of Truth™||Console, PC||March 2013|
- During the fiscal first quarter, the company recorded approximately $4.5 million in non-GAAP business realignment expenses, which include cash costs of approximately $0.7 million related to severance and other employee-related costs, and non-cash impairment charges of approximately $4.3 million related to decisions made to cancel or reconfigure titles.
- stock-based compensation expense,
- certain deferred revenue and related costs,
- business realignment and related expenses,
- capitalized interest, and
- other significant charges and benefits.