Losses mount at THQ

THQ has reported losses of $136.1m for its 2011 financial year. This is significantly more than the $9m loss posted for fiscal 2010.

Revenue was down year-on-year from $899.1m to $665.3m. The company’s Q4 was more successful, however, thanks to the release of Homefront. The shooter has now sold over 2.5m units, leading to revenue of $124.2m for the quarter – last Q4 revenue hit $197.7m.

"THQ posted strong fourth quarter results primarily driven by the success of Homefront," president and CEO Brian Farrell stated. "We have already shipped 2.6m units, a solid start for this new franchise, which kicks off the strongest pipeline of AAA core games in our history.

The company is also clearly enthusiastic about its software slate for the year ahead, which for the first time includes Wii title uDraw arriving on both Xbox 360 and PS3.

"We expect to generate significant growth, profitability and cash in fiscal 2012, driven by the latest installments of multi-million unit selling franchises, Saints Row, Red Faction, Warhammer 40,000, MX vs. ATV, UFC, WWE, and uDraw," he added.

"We are creating a digital ecosystem for each of these games that will continue to keep consumers engaged and generate additional revenue opportunities beyond the initial retail sale. We also continue to aggressively invest in our digital initiatives, including online social and mobile offerings as well as our Warhammer 40,000: Dark Millennium Online MMO."

The publisher has also named former Disney exec Angela Emery as its new VP of corporate communications.

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