THQ revenues, profit climbs

Game publisher THQ took its A-game to the competition today. The company reported that for the full fiscal year that ended March 31, 2005, revenues increased a solid 18 percent to $756.7 million, compared to previous annual revenues of $640.8 million. Overall, THQ banked a profit of $62.8 million, a 75 percent hike compared to the previous fiscal year.

Most recent quarterly revenues were $171.9 million, a healthy 40 percent higher than the same period a year ago. The net income--that is, profit--of $10.1 million was up from $5.4 million in the prior year's quarter. Internally developed MX vs. ATV Unleashed and The Punisher were picked out as the quarter's best sellers.

Boasting like a prize fighter, THQ CEO Brian Farrell said, "With some of the best mass-market brands, more than 900 people in our internal studio organization, a growing international sales team, and more than $330 million in cash and short-term investments, THQ is poised to expand our leadership position in the video game industry."

The company bullet-pointed accomplishments, highlighting six games that sold more than a million units over the full fiscal year
--The Incredibles: over 4.5 million units
--The SpongeBob SquarePants Movie: over 2.5 million units
--WWE SmackDown! Vs. Raw: over 2 million units
--Finding Nemo: over 2 million units
--SpongeBob SquarePants: Battle for Bikini Bottom: over 1 million units
--Full Spectrum Warrior: over 1 million units

THQ said sales abroad contributed to the bottom line as well--international revenue was up 38 percent year-on-year. THQ also touted its increased internal studios operations, saying it had more than doubled its development staff to more than 900 employees. In a statement, it also singled out the accomplishments of THQ Wireless, which more than tripled its revenues to $25 million for the full fiscal year.

The company maintained its previous guidance, saying it expected revenues for the year ending March 31, 2006, to reach $750 million.