THQ financial report follows suit: record net sales and income for FY 2007

Posted May 10, 2007 at 12:58PM EST by QJ Staff

Listed in: News Tags: Brian Farrell, Hot Import Nights, THQ, WWE, WWE Smackdown

Game publishing giant THQ follows suit after the flurry of financial reports from several other publishers and gaming companies have announced their financial performance standings for the fiscal year (FY) 2006-2007. According to a fearless press release by THQ, they have achieved record net sales and net income for FY 2007, ending March 31, 2007.

For twelve years on end, the "creative hub" publishing giant has kept up a steady revenue growth with a record total of US$ 1.027 billion, up 27% from the US$ 806.6 million recorded in FY 2006. Thanks to titles such as Supreme Commander, S.T.A.L.K.E.R.: Shadow of Chernobyl and WWE SmackDown vs. RAW 2007, THQ's net income reached US$ 68 million, doubling last year's profits of US$ 32.1 million.

"During a challenging hardware transition, THQ significantly outperformed the market in our major territories," said THQ's president and CEO Brian Farrell. According to him, the company's success for FY 2007 was greatly attributed to multi-million unit sellers Cars and WWE SmackDown vs. RAW 2007, including the launching of new IP Saints Row. Farrell concluded the announcement, (unashamedly and fearlessly) coupled with the company's relevant financial statements, with:

The industry is entering an exciting growth period as the new hardware reaches critical mass. In fiscal 2008, we plan to release an increasing number of titles for the growing base of new hardware, including owned original properties Frontlines: Fuel of War, Juiced: Hot Import Nights and Stuntman: Ignition.

With three 30-million unit licensed franchises and a growing portfolio of internally developed original franchises, we are well positioned to expand our leadership position in the video game industry.

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THQ financial report follows suit: record net sales and income for FY 2007

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