THQ has reported record first quarter financial results for the three months ended June 30.
During the quarter, sales rose 77 per cent to $243.5 million (£148.1m), driven primarily by UFC 2009 Undisputed and Red Faction: Guerrilla, while profit hit $6.4 million (£3.9m), compared with a net loss of $27.2 million (£16.55m) in the same quarter last year.
THQ said that UFC 2009 Undisputed has shipped more than 2.9 million units worldwide to date, and Red Faction: Guerrilla over a million copies.
“We reported the highest June quarter net sales and net income in our history, driven primarily by the success of our hit title UFC 2009 Undisputed,” said Brian Farrell, THQ president and CEO. “Our first quarter results demonstrate the benefits of our more focused product strategy and aggressive cost management.”
In June, THQ reorganised its global management team around three new business units for core, casual and online games.
While the publisher has no new titles scheduled for release during the second quarter of the business year, based on its Q1 performance it expects “fiscal 2010 net sales to exceed those reported in fiscal 2009” and “to achieve profitability for fiscal 2010.