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

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.

“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,” 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, “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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8 comments

  • Sy87 - February 3, 2011 11:21 p.m.

    Sweet Saints Row 3. About time what does a brothera have to do to get some freckle beetches around here.
  • shawksta - February 3, 2011 10:33 p.m.

    Saints Row 3? YEAH BABY! as for the Udraw, dont underestimate it, All they have to do is Release a Super Scribblenauts game on it and Mario Paint and you guys would go crazy for it.
  • Larinah - February 3, 2011 10:07 p.m.

    SAINTS ROW 3 OMG. I didn't like the first one, but the second remains to this day one of my favorite games. I'm seriously looking forward to this.
  • oryandymackie - February 3, 2011 8:43 p.m.

    I'm not ashamed to admit that I'm ridiculously hyped for Saints Row 3.
  • Kage_No_Shi - February 3, 2011 8:37 p.m.

    Saints Row 3? I'm there.... They need to release the PC version at the same time as the console versions though >_>
  • ViolentLee - February 3, 2011 7:23 p.m.

    The WWE online game was going to be Korea-only, so it's really not much of a loss.
  • Robx - February 3, 2011 7:02 p.m.

    Wow I had no idea about COHO shutting down...my sister's gonna be pissed after losing her Lvl.50-wait, Saints Row 3 this fall? YEEEEEEEEEEHAAAAAAAAAAAAAAAAAAW!
  • TruckThunders - February 3, 2011 6:36 p.m.

    Saints Row, bitches!

Showing 1-8 of 8 comments

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