THQ posts loss on disappointing sales
From Times Wire Reports
Video game publisher THQ Inc. said it swung to a quarterly loss from a profit a year ago after warning it expected disappointing sales of titles such as “Stuntman: Ignition.”
The net loss in its fiscal second quarter was $7 million, or 11 cents a share, compared with net income of $11.6 million, or 17 cents, a year earlier.
Excluding 8 cents a share of stock-based compensation expenses, the loss was 3 cents a share, in line with expectations, according to Reuters Estimates.
The Agoura Hills company posted sales of $229.3 million, versus $240.2 million a year earlier.
THQ shares fell 2.3% to $26.03 in extended trading after results were released. They had closed down 44 cents at $26.65.
