South Park: The Stick of Truth, Company of Heroes 2, Metro: Last Light delayed

THQ announces financials for second quarter 2013, seeking alternative capital

THQ announced delays for South Park: The Stick of Truth, Company of Heroes 2, and Metro: Last Light, along with financial results for the second quarter of it 2013 fiscal year today. President Jason Rubin assured investors the delays were necessary for quality, though they will leave the company in a financial pinch.

“Our fourth quarter releases are the first titles that I have had the ability to materially impact, and experience told me that the games needed additional development time to be market-ready," Rubin said in THQ's statement.

South Park: The Stick of Truth's release was pushed back from March 5, 2013 to "early fiscal 2014," meaning a delay of likely a few months. Both Company of Heroes 2 and Metro: Last Light are expected to ship in March 2013.

Meanwhile, THQ has suffered softening losses, thanks in large part to continued strong performance by Saints Row: The Third. Death came softly for the publisher with Darksiders II, however, which underperformed with 1.4 million units shipped in the second quarter.

The company sold $107.4 million compared to $146 million in the same period last year, but lost only $21 million compared to $92.4 million. Its digital revenues were $19.1 million, up a third from $14.3 million last year.

The previously mentioned delays are leaving the THQ with a capital shortfall, and it plans to consult with an outside firm on raising additional funds. Until then, the publisher has suspended all sales and earning guidance, and has withdrawn previous guidance for fiscal year 2013.

UPDATE: Joystiq sources indicate that the external firm, Centerview Partners, is a private equity broker. THQ consulting with Centerview may mean the publisher intends to go private.


One of GR+'s news crew, Connor also writes features from time to time and does a lil' streamin'-streamin' on the side. Chrom is his husband and nothing will ever come between them.
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