Videogame publisher THQ Inc. set a revenue record for the first quarter of
2002, with sales jumping 34% to $79.7 million. Net income leaped more than 200%
to $2.8 million.
The increases were driven by strong sales of the company's games during the
quarter that extended across all the consoles released during the holiday season
of 2001.
"Product releases during the quarter for each of the new game consoles,
as well as for PC, handheld and wireless systems, spanned the demographic range
from kids to core gamers and everyone in between," THQ president and CEO
Brian Farrell said.
Farrell noted that the top-selling games for the Calabasas, Calif.-based
company were Sonic Advance for Nintendo's Game Boy, WWF Raw for
Microsoft's Xbox and Britney's Dance Beat for Game Boy Advance. The
PlayStation 2 version of the Britney Spears game launches in May.
According to THQ, WWF Raw had the best first-week sales ever for a
third-party game for Xbox.
Popular titles on the original PlayStation from THQ included SpongeBob
SquarePants: SuperSponge and RocketPower: Team Rocket Rescue.
Precise sales figures on all of the games were not released. THQ released 12
games during the quarter, with the majority of the company's revenue coming from
the Game Boy, Game Boy Advance and Nintendo 64.
As a result of the expansion of the Nickelodeon/THQ deal that was announced
during the quarter, two new titles were announced for next year: Interstellar
P.I.G., based on William Sleator's novel, and Tak and the Power of Juju.
As part of its deal with Marvel Entertainment, those two companies will
create a videogame in 2003 titled The Call, based on the heroism shown by
New Yorkers during Sept. 11.
For the rest of 2002, THQ said it anticipates second-quarter revenue to
register between $80 million and $85 million, with total sales of $510 million
to $520 million on the year.
THQ's stock split 3-for-2 on March 26.
Results were announced after the close of trading Tuesday. Shares were up
about 1% to $35.45 in regular trading.
Source: britneyspears.org
updated: 04-17-2002 11:05
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