Today, it was THQ's turn to offer its financial summary for the three months ending June 30, 2010. Suffice it to say that it wasn't the company's best quarter. The Southern California-based studio reported net sales of $149.4 million, versus $243.5 million during the same period in 2009. That resulted in a $30.1 million quarterly loss for THQ, down from the $6.4 million profit it eked out last year, thanks in large part to massive sales of Red Faction: Guerrilla and UFC 2009 Undisputed.
Unfortunately, sales of critically acclaimed UFC 2010 Undisputed didn't pack the punch of its predecessor. Amid the technicolor hubbub of the Electronic Entertainment Expo, THQ warned investors that though the mixed martial arts sequel had shipped 2.6 million units, sell-through results were disappointing. Today, THQ upped that number to 2.7 million units shipped for the Xbox 360 and PlayStation 3--a far cry from the 3.5 million units UFC 2009 Undisputed sold through. A PSP edition of the game will ship on September 7.
THQ also used its report to set a release window--albeit a wide one--for The Devil's Third, the upcoming game from Ninja Gaiden creator Tomonobu Itagaki's newly founded Valhalla Game Studios. The Xbox 360 and PlayStation 3 title will now be released sometime during the fiscal year ending March 31, 2013.
THQ also offered guidance for its entire fiscal year, which ends at the end of March 2011. The company expects net sales of $845 million to $865 million and "roughly breakeven" earnings. The news did not please investors, as THQ stock fell over 3 percent in after-hours trading. That was on top of the 4 percent it lost during the day following a downgrade by Sterne Agee analyst Arvind Bhatia from "buy" to "neutral." The company's shares ended the trading day at $4.38, and were down to $4.24 as of press time.