THQ has released its accounts for the last financial year, which show that the publisher sustained a loss of $136.1 million, fifteen times the $9m loss it reported the previous year.
During the course of the year net sales revenue was $665.3 million, a drop of 26 per cent year on year. For the three months ending March 31, net sales slumped 37 per cent to $124.2 million, while the firm’s losses quadrupled year on year, to $44.1 million.
The disappointing figures come despite THQ shipping 2.6 million units of new shooter Homefront, 4 million units across its WWE licence, and 1.7 million uDraw tablets. CEO Brian Farrell, however, remains optimistic about the year to come, believing that a strong software lineup will drive a turnaround in the publisher’s fortunes.
Farrell said: “We expect to generate significant growth, profitability and cash in fiscal 2012, driven by the latest installments of multi-million unit selling franchises, Saints Row, Red Faction, Warhammer 40,000, MX vs. ATV, UFC, WWE, and uDraw.
“We are creating a digital ecosystem for each of these games that will continue to keep consumers engaged and generate additional revenue opportunities beyond the initial retail sale. We also continue to aggressively invest in our digital initiatives, including online social and mobile offerings as well as our Warhammer 40,000: Dark Millennium Online MMOG."
Farrell also announced that THQ will release the uDraw tablet, previously only available for Wii, for PS3 and Xbox 360 later this year.
Source: THQ