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THQ Reports Fiscal 2009 Second Quarter Results, Reduces Fiscal 2009 Outlook and Announces Significant Business Realignment

AGOURA HILLS, Calif.–(BUSINESS WIRE)–Nov. 5, 2008–THQ Inc. (NASDAQ: THQI) today announced financial results for the fiscal second quarter ended September 30, 2008, reduced its financial outlook for the fiscal year ending March 31, 2009, and announced a significant business realignment.

Second Quarter Results

For the three months ended September 30, 2008, THQ reported net sales of $164.8 million, compared with $229.3 million in the prior year. On a non-GAAP basis, the company reported fiscal 2009 second quarter net sales of $151.6 million. Fiscal 2009 second quarter sales reflect a lighter new release schedule than the prior-year period, and included the international roll-out of games based on Disney/Pixar’s WALL-E and initial global shipments of new original Wii(TM) title de Blob(TM).

For the three months ended September 30, 2008, the company reported a net loss of $115.3 million, or $1.73 per share, which included a non-cash charge of $1.21 per share related to a valuation allowance and the related tax effects for its deferred tax assets. In the same period a year ago, the company reported a net loss of $7.0 million, or $0.11 per share. On a non-GAAP basis, the company reported a fiscal 2009 second quarter net loss of $30.4 million, or $0.46 per share. This was below the company’s previous guidance of a loss of $0.35 to $0.39 per share, primarily due to lower-than-anticipated international sales of WALL-E and higher-than-expected sales returns and allowances. In the same quarter a year ago, the company reported a non-GAAP net loss of $2.2 million, or $0.03 per share.

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Circuit City Closing Bad For Them Good For You

I remember when Media Play started closing down. I got a computer game, 3 Cd’s, and a T-Shirt all for about $10. Circuit City is reporting that they will be closing 155 stores across the country. You will not be getting as good deal as if all the stores were closing, like Media Play was, but there are a few deals that you can check out.

Systems (360, PS3, Wii, DS, PSP) and their respective games – 5% off
All game accessories (controllers, batteries, cases, Xbox Live memberships, etc) – 10% off
“Social” games (aka Rockband and Guitar Hero) – 10% off
PC Games – 10% off
Strategy guides and cheat books – 20% off

Store # Store Name Street Address City State ZIP

3280 ANNISTON 704 SOUTH QUINTARD AVE ANNISTON AL 36201
829 TRUSSVILLE 3555 ROOSEVELT BLVD TRUSSVILLE AL 35235
3240 FAYETTEVILLE 744 EAST JOYCE BLVD FAYETTEVILLE AR 72703
441 AVONDALE 10140 W MCDOWELL RD AVONDALE AZ 85392
3330 CHANDLER 3456 WEST CHANDLER BLVD CHANDLER AZ 85226
3580 GILBERT 2817 S MARKET ST GILBERT AZ 85295
3760 GOODYEAR 15433 WEST MCDOWELL RD GOODYEAR AZ 85338
436 MESA 1530 WEST SOUTHERN AVE MESA AZ 85202
3337 SUPERSTITION SPRINGS 1515 S POWER RD MESA AZ 85206
3362 ARROWHEAD 7645 WEST BELL RD PEORIA AZ 85382
435 PHOENIX METRO 9801 N METRO PKWY E PHOENIX AZ 85051
3341 NORTH SCOTTSDALE 7000 EAST MAYO BLVD PHOENIX AZ 85054
3426 CAMELBACK 1670 EAST CAMELBACK RD PHOENIX AZ 85016
3558 HAPPY VALLEY 2501 W HAPPY VALLEY RD PHOENIX AZ 85085
4314 QUEEN CREEK 21002 S ELLSWORTH LOOP QUEEN CREEK AZ 85242
437 SCOTTSDALE 8929 EAST INDIAN BEND RD SCOTTSDALE AZ 85250
3301 INDUSTRY 1600 S AZUSA AVE CITY OF INDUSTRY CA 91748
422 COMPTON 120 EAST COMPTON BLVD COMPTON CA 90220
235 CONCORD 2030 DIAMOND BLVD CONCORD CA 94520
236 DUBLIN 7153 AMADOR PLAZA ROAD DUBLIN CA 94568
449 ESCONDIDO 1138 WEST VALLEY PARKWAY ESCONDIDO CA 92025

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ECA Announces New Partnerships with Walmart, Amazon and K2 Network

“In just over two years, the ECA has brought together a politically charged videogame community united to rally against efforts singling out videogames from the First Amendment protections enjoyed by …
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Top 20 WiiWare and VC

By  • 

Virtual Console

1 (1) – Super Mario Bros. 3 2 (3) – Super Mario Bros. 3 (2) – Secret of Mana 4 (4) – Super Mario RPG: Legend of the …
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Crazy Mini Golf: Obama/McCain Trailer

Great news for the free world, America has a new man in charge and Data Design Interactive would too congratulate Democrat leader Barack Obama who has become the 44th President of United States of American.

President Barack Obama has to wait until January until he gets the inaugurated, basically gets the keys to the White House from George, who may have lost them? He will have plenty of time on his hands to play a few rounds of Kidz Sports – Crazy Mini Golf’ and invite both McCain and Palin round to grab their putters, chose their own characters and aim for the entrance to the windmill in a multi-player game of Crazy Mini Golf?

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