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Times have been tough for THQ. In the last week alone, the publisher was forced to fire a bulk of its staff and report higher-than-expected quarterly losses of $55.9 million to investors. Now, THQ has announced that 4A Games' Metro: Last Light won't be seeing the light of day until 2013, and Virgil Games' Warhammer MMO may not see the light at all unless it can find a financial partner.
THQ CEO Brian Farrell delivered the news in a recent investor conference call, explaining the Metro: Last Light delay is not a bad omen, but instead a means for THQ to bulk up its 2012 schedule and get back on track following a poor fiscal year. In a comment obtained by Rock, Paper, Shotgun, 4A Games assured fans this is a good move, saying, “[The release] may be a little later than you were expecting, but trust us – the wait will be worth it! You’ll be hearing a lot more about Metro: Last Light closer to E3, so please be patient. We can’t wait to show you what we’ve been up to.”
The fate of Warhammher 40K: Dark Millennium Online is slightly less promising. In an effort to control costs and to ensure the ambitious MMO actually makes it out the door, Farrell said THQ will need some outside backing, noting, “Because of the large financial commitment and associated risks, we are being realistic about our resources and we are actively seeking a partner for this compelling new MMO. We will keep you updated on our progress."
THQ's troubles are being blamed on the poor performance of its uDraw GameTablet and family gaming focus. Said Farrell: "Sales of the uDraw GameTablet and related software, and other titles in the kids, family and casual category were far weaker than anticipated, substantially reducing our financial results for the quarter. With our focused product plan, leaner cost structure, cash balance, and existing credit facility, we believe the company has adequate resources to execute on our plan and deliver on our strong multi-year pipeline of games."
That strong, multi-year pipeline, along with THQ's complete third quarter fiscal report, can be read in full here.