Video Game Maker THQ Narrows Loss
THQ Inc., a Calabasas-based publisher of video games and other interactive entertainment software, reported a narrower loss for its second quarter that ended June 30.
The company reported a loss of $2.26 million, down 41% from the $3.86 million loss recorded in the year-earlier quarter. Revenue in the June quarter tumbled 50% to $2.56 million from $5.17 million in the same quarter a year earlier.
For its six-month period, the company reported a loss of $4.82 million on revenue of $7.59 million, compared to a loss of $3.46 million on sales of $17.2 million a year earlier.
The company said the second quarter results reflect an ongoing effort to reduce inventories and cut costs. THQ said it is focusing its product line on certain titles and is producing a modem that will allow video game players to compete against each other through a computer network.