THQ reports $239.9m net loss for FY2012

MCV Staff 16th May 2012 Publishing

THQ has announced financial results from its fiscal 2012 and Q4 2012.

For Q4 total sales for the company reached $184.2m, up from $124.2m during the same period last year. Net losses during the fourth quarter increased to $53.2m from $44.1m last year.

Full FY 2012 results show total sales rising to $830.8m over 2011’s $665.3m figure; however THQ still suffered a net revenue loss of $239.9m versus $136.1m the year prior.

Additionally, THQ reports the company’s ‘future kids’ license commitments’ have been reduced by $30m, having sold through 84 per cent of its shipped uDraw tablets and expecting to rid itself of the remaining inventory in fiscal 2013.

"We have made significant changes to our business, and are on track to execute our strategy of delivering quality connected core gaming experiences," THQ president and CEO Brian Farrell stated.

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