THQ Reports Strong Response to Cars

THQ today announced financial results for the first quarter of fiscal 2007. For the first quarter of fiscal 2007, THQ reported net sales of $138.8 million, which exceeded the company’s guidance of $125.0 million, due primarily to better-than-anticipated sales of Disney/Pixar’s Cars (Nintendo GCN, DS, GBA, PSP, PS2 and Xbox) and MotoGP 2006 (Xbox 360). In the first quarter of fiscal 2006, the company reported net sales of $158.0 million. The company reported a fiscal 2007 first quarter net loss of $12.1 million.

“Among a number of strong-performing titles in the June quarter, Cars was especially noteworthy, with U.S. sales outpacing both Finding Nemo and The Incredibles over a comparable period,” said Brian Farrell, THQ president and CEO. “Our internal development teams delivered a great interactive experience based on the film and our sales and marketing teams executed at retail. We expect sales of Cars to continue to drive our upcoming quarterly results as we complete the global roll-out across Europe and Asia this summer and then bring Cars to the Xbox 360 and Nintendo Wii platforms this holiday season.”