UFC pushes THQ to record quarter
Profits hit $6.4 million as fighting title ships over 2.9 million units worldwide
THQ has reported record results for the quarter ended June 30, with fighting game UFC 2009 Undisputed helping the publisher reach profits of USD 6.4 million.
Net sales rose 77 per cent to USD 243.5 million – compared to a loss of USD 27.2 million the previous year - also helped by the success of internally developed title Red Faction: Guerilla.
"We reported the highest June quarter net sales and net income in our history, driven primarily by the success of our hit title UFC 2009 Undisputed," commented Brian Farrell, THQ president and CEO.
"Our first quarter results demonstrate the benefits of our more focused product strategy and aggressive cost management. These record results reflect the hard work and dedication of our employees around the globe."
UFC Undisputed 2009 has shipped over 2.9 million units worldwide, said THQ, while Red Faction: Guerilla has topped over one million shipped.
During the quarter the publisher has reorganised its internal divisions to focus on three specific areas, as well as settled a long-running dispute with Jakks Pacific over the WWE royalty rights, which will deliver a one off benefit of USD 23 million during the second quarter.
"Our three recently announced business units - Core Games; Kids, Family and Casual Games; and Online Games - are focused on delivering a strong fiscal 2010 line-up and building our pipeline of games to support THQ’s long-term profitability and growth," added Farrell.
For the second quarter THQ expects sales to be USD 95 million at most, due to no major releases, down from the USD 151.6 million in the previous year.