, the third-largestvideo game software maker, warned that fiscalsecond-quarter results will fall short of previousguidance because of delays in product launches.
Calabasas Hills, Calif.-based THQ said as a resultof delays in launching
Sphinx and the CursedMummy
Warhammer 40,000: Firewarrior
,the company is slashing its second-quarter guidance toearnings of 1 cent a share on $105 million in sales,down from prior estimates of 8 cents a share on $120 million in revenue.
Analysts polled by Thomson First Call wereexpecting 9 cents a share on $120.1 million in revenuefor the second quarter of fiscal year 2004, which endsin September.
In a release after the bell, the company saidit is not changing its guidance for fiscalyear 2004, just moving revenue and earnings from theSeptember quarter into the December quarter. For fiscal year 2004, the company expects net income to range from 80 cents to 85 cents a share on revenue ranging from $530 million to $540 million.
asimportant new products and believe the extra time iscritical to ensuring the best possible productquality," said THQ CEO Brian J. Farrell in a prepared statement. "In addition, we expect the concurrent launch of
onthree consoles to maximize the title's potential."
THQ moved the launch of
PlayStation 2 to Nov. 10 from its previously plannedlate September debut. The company also announced plansto publish
Xbox in NorthAmerica concurrent with a launch on PlayStation 2 andGameCube.
, billed as the first onlinefirst-person shooter for PlayStation 2, will bereleased on schedule in Europe during the Septemberquarter, but the version for North America will notship until the third quarter. The PC versions also arenow scheduled to ship in North America and Europeduring the third fiscal quarter.
THQ, ranked the third-largest video game maker bymarket share in July by The NPD Group, suffered a 3.2%drop in retail sales during the month. Year-to-datesales are down 6.3%, but the company remains the topindependent publisher on the GameBoy Advance.
Shares of THQ were down19 cents a share, or 1.2%, to close at $15.93. The bidprice in after-hours trading fell to $15, while theask price was $15.80.