THQ reports quartlerly losses, uDraw gains, and a fall release for Saints Row 3

THQ banking on its big releases to make up for poor holiday 2010 performance

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After a dismal holiday 2010 quarter, and the cancellation of its Company of Heroes Online and WWE Online projects, it's safe to say that THQ has seen better years. But before you start sending the sympathy cards and care packages, you'd do well to hear the positive bits; namely, that THQ is selling uDraws like uHot uCakes and it plans to become filthy stinking rich in 2011 with the release of huge IPs like, oh, Saints Row 3 this fall.

It was a case of good news, no-so-good news and practiced PR talk during THQ's Q3 2011 earning conference wherein THQ's CEO Brian Farrell reported that the studio had posted a loss of $14.9 million in its last quarter which ended in December 31st, 2010; a significant drop compared to the $542,000 in profit it reported for Q3 2009. The loss was attributed in part to THQ's decision to wean itself off of kiddie game licenses and focus on the studio's major IP releases. The company also reported that it was taking a $9.9 million hit due to the recent cancellation of both WWE Online and Company of Heroes Online, the latter of which will remain in open beta for North Americans until March 31st.

On the plus side, Farrell reported that its free-range art peripheral, uDraw, had sold over 1.3 million units stateside, and more importantly, that it was readying its gold vault for the massive wads of cash it'll receive from this year's major releases.

%26ldquo;Fiscal 2012 will be driven by the strongest core games line-up in our history, including: Red Faction Armageddon, Warhammer 40,000 Space Marine, MX vs. ATV Alive and the newest installment of our Saints Row franchise," explained Farrell.

Saints Row 3 this fall? Do tell! "In the fall, we plan to launch the latest installment of our Saints Row franchise, which we view as a significant growth driver in fiscal 2012,%26rdquo; said Farrell, adding, "Volition is setting a new bar for this outstanding franchise and we look forward to unveiling this game in the near future."

Pressed for details, Farrell admitted that he's been sworn to secrecy, but, %26ldquo;Hang in there: you're going to love it."

Yeah, you'd say that, wouldn't you? Imaginary conversations aside, 2011 (aka Fiscal 2012) should be a better year for THQ, as long as the gaming public still has an appetite for sketching, saving Martians and open gang warfare.

Feb 3, 2011

[Sources: Gamespot,G4 ]



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