THQ sales stoops US$ 34 million for Q1, confirms Red Faction sequel

Posted Aug 1, 2007 at 1:52PM EST by QJ Staff

Listed in: Wii, PS3, Xbox 360, PC Gaming Tags: Brian Farrell, China, Pixar, THQ, WWE, WWE Smackdown

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Back in the industry news, "creative hub" publisher THQ announced a first quarter sales dip of approximately US$ 34 million, while reporting a significantly lowered quarter net loss of US$ 9.3 million. Despite the drop from US$ 138.8 million to US$ 104.5 million in sales of Ratatouille, Cars, and WWE SmackDown! vs. Raw 2007, the publisher is confident about its US$ 240 million sales target for Q2 2007.

Achievements for the company during Q1 included a penetration of the online market in China, after THQ signed an agreement with Shanda, a local game operations firm, to deliver the long-standing PC game Company of Heroes to the blossoming PC market in the region. While details were scarce, it was hinted that the title would definitely cater to the online segment.

Brian Farrell, CEO of THQ, assured attendees at the recently concluded press conference that the current quarter performance appears to be as they expected. He remained confident that their lineup of family-friendly and casual games for the Nintendo Wii and DS will keep the company "well positioned" for the remainder of the fiscal year.

Company of Heroes: Opposing Fronts, de Blob, Stuntman: Ignition, and WWE SmackDown vs. Raw 2007, on the other hand, have been selected as for Game Critics' Best of E3 2007 Awards, while a whispered sequel for Red Faction back in February was confirmed at the conference call. Details on the sequel have not been revealed as of press time.

Future prospects of the company appear to be cautiously optimistic, after Farrell noted a faster pace of PlayStation 3 hardware sales that seem to outweigh the platform's software sales. The company also plans to dive into in-game advertising more so this 2008, claiming to be in talks with Nickelodeon and Pixar to discuss in-game ad revenue shares.

Via Gamasutra

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Finally a Red Faction sequel. I've been wating years for this. I'll make sure to pre-order this game as soon as gamestop lets me. I only have the PS3 right now with no plans of getting a 360, but in an un-likely case that Red Faction doesn't hit PS3 (even though the first two were both on PS2) , that'll be my sole reason to get the 360 day and date with the Red Faction 3 launch

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THQ sales stoops US$ 34 million for Q1, confirms Red Faction sequel

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