Thq Inc

THQ Inc., a Calabasas maker of computer games, said its earnings for the third quarter that ended Sept. 30 were $305,000, compared to a loss of $2.9 million in the third quarter last year. The turnaround was on revenue of $7.75 million--nearly six times the year-ago figure of $1.36 million. For the first nine months of 1995, THQ reported earnings of $154,000, compared to a net loss of $7.6 million in the corresponding year-earlier period. Nine-month sales also surged: Revenues were $18.

Video game publisher THQ Inc. fought its way to a fiscal first-quarter profit, bolstered by sales of mixed martial arts game UFC 2009 Undisputed and war game Red Faction: Guerrilla. But shares of the Agoura Hills company fell more than 7% in after-hours trading after it gave a sales forecast for its second quarter that disappointed investors. Analysts had expected sales to reach $121.7 million, but THQ is not expected to release a game in the quarter.

THQ Inc. said it reduced by 25% the number of common shares that will be available in the company's pending secondary public offering, to 2.25 million shares from 3 million. The Calabasas-based developer of video games still plans to offer for sale 1.5 million of its own shares, but some existing stockholders have cut the number of shares they are offering to 750,000 from 1.5 million, the company said.

The video game industry is splintering into the haves and the have-nots. THQ Inc. falls in the less fortunate camp. The Calabasas publisher was at the top of its game two years ago. The company's $68-million profit and $1 billion in revenue put it within striking distance of crosstown rival Activision Inc. THQ released an ambitious plan to expand its game lineup and began acquiring development studios across the country.

THQ Inc., a Calabasas-based developer of video games, said it agreed to acquire Black Pearl Software, a Chicago developer of video games for home use and arcade machines. THQ said Black Pearl will maintain its office in Chicago and will establish new headquarters in Calabasas, where it will operate as a wholly owned subsidiary of THQ. Cost and other terms of the acquisition were not released.

THQ Inc. of Calabasas reported net income for the fourth quarter that ended Dec. 31 of $21.5 million, compared with $14.9 million for the same period the previous year. Net sales increased to $190.9 million from $127.6 million. For the year, the company reported net income of $26.7 million, compared with $32.9 million. Net sales rose to $347 million from $302.3 million. THQ develops, publishes and distributes interactive entertainment software.

THQ Inc. announced a loss of $10.5 million for the fourth quarter ended Dec. 31, 1993, compared to earnings of $2.5 million for the same period in 1992. Sales for the fourth quarter of 1993 were $13.3 million, compared to $32.6 million for the same period in 1992. The company reported a loss of $16.2 million in 1993, compared to earnings of $4 million for 1992. Sales for 1993 were $37.4 million, compared to $56.4 million in 1992.

THQ Inc., a Calabasas-based maker of video games, reported continued heavy losses and a sharp drop in sales for the fourth quarter and year that ended Dec. 31. The company posted a loss of $9.72 million in the fourth quarter, down from a $10.5-million loss in the same three-month period a year earlier. Sales tumbled to $4.34 million, down 67% from the fourth quarter of 1993. For the year ended Dec. 31, THQ reported a loss of $17.5 million on sales of $13.

THQ Inc. of Calabasas said it has purchased a minority interest in Yuke's Co. Ltd, a Japanese game developer. The terms of the deal were not disclosed. THQ develops, publishes and distributes interactive entertainment for a variety of game platforms.

T-HQ Inc., the Calabasas publisher of video game software, said it has raised about $4.8 million through the sale of 8 million units to private investors. The units consist of one share of common stock, and a warrant to purchase one-half share of common stock of the company at $1 per share. Proceeds will be used to repay bank debt, and for product development, including further work on a modem to allow video game players to compete over the telephone.

THQ Inc., publisher of the WWE wrestling and Wall-E video games, posted a $191.8-million fiscal third-quarter loss and said it would eliminate almost a quarter of its staff. The net loss for the period ended Dec. 31 was $2.86 a share, reflecting a $118-million write-down of acquired assets, THQ said. The loss compares with net income of $15.5 million, or 23 cents, a year earlier. Sales fell 30% to $357 million. THQ has posted losses in five of the last six quarters as the company has struggled to find hits.

The video game industry's rising tide has not lifted all boats. Activision Blizzard Inc. on Wednesday posted a doubling of quarterly revenue and predicted strong holiday sales. But THQ Inc., whose games have failed to connect with players recently, said it would slash 250 jobs, or 17% of its developers, as it cancels projects and closes five development studios across the country.

Video game publisher THQ Inc. of Agoura Hills reported a wider fiscal first-quarter loss as it spent more to develop games such as Saints Row 2 and lowered its annual sales and profit forecasts. THQ lost $27.2 million, or 41 cents a share, compared with a loss of $9.27 million, or 14 cents, a year earlier. Excluding some costs, the loss was 38 cents a share, beating the 39-cent average of analysts' estimates compiled by Bloomberg. Sales in the period ended June 30 rose 32% to $137.

THQ Inc. said the U.S. Securities and Exchange Commission doesn't plan to recommend any action against the video-game publisher related to a stock options probe. The SEC's investigation into the Agoura Hills-based company's practices in granting stock options has been completed, THQ said.

THQ Inc. didn't share much of the video game industry's holiday joy, reporting a 75% drop in fiscal third-quarter profit Tuesday. Hurt by lagging sales of two high-profile titles and underperforming projects that were canceled, the Calabasas-based game publisher posted sales of $509.6 million in the quarter ended Dec. 31, up 7% from a year earlier. Net income tumbled to $15.5 million, or 23 cents a share, from $62.1 million, or 91 cents, a year earlier.

Shares of THQ Inc., the third-largest U.S. video-game publisher, had their biggest drop in more than five years in Nasdaq trading after lowering its forecast for sales this quarter and predicting a loss. THQ fell $5.60, or 22%, to $19.50. Sales will be $200 million in the three months ending March 31, less than the previous forecast of $240 million, the Agoura Hills-based company said. It expects a loss of 13 cents a share. THQ is closing its Concrete Games studio and canceling some titles, including a version of "Destroy All Humans!"

THQ Inc., the third-largest U.S. video-game publisher, lowered its forecast for sales this quarter and said it would report a loss of 13 cents a share. Its shares fell 8.4% after hours. Sales will be $200 million in the fourth quarter ending March 31, less than the previous forecast of $240 million, the Agoura Hills-based company said.

THQ Inc. said Chief Financial Officer Edward Zinser resigned and that Controller Rasmus van der Colff would be interim CFO while the company looks for a permanent replacement. Zinser's departure isn't related to THQ's financial condition, the Agoura Hills-based video game publisher said.