For the company's first quarter in fiscal year 2007, the publisher reported an increase in sales revenue, up from $125 million to $138.8 million. This was driven by the better than expected sales of MotoGP 06 on the Xbox 360 and the multiplatform success of the video game adaptation of Pixar's Cars.
Despite a rise in sales, THQ has reported first quarter losses of $12.1 million, up from $3.96 million in the same period last year.
"Among a number of strong-performing titles in the June quarter, Cars was especially noteworthy, with US sales outpacing both Finding Nemo and The Incredibles [games] over a comparable period," said THQ president and CEO Brian Farrell. "We expect sales of Cars to continue to drive our upcoming quarterly results as we complete the global rollout across Europe and Asia this summer and then bring Cars to the Xbox 360 and Nintendo Wii platforms this holiday season."
Farrell expects the roll out of the company's next-generation titles to ensure the publisher outperforms the market on the whole.
"Our confidence reflects the strength of THQ's product portfolio, which offers a balance of new original properties for avid gamers on next-generation consoles and Windows PC, including the upcoming Saints Row and Company of Heroes, and multi-platform releases of proven mass-market licensed titles, including games based on Disney Pixar, WWE and Nickelodeon brands," added Farrell.
Speaking during a conference call, Farrell said that he feels the Wii has "a good chance to compete as the second system of choice in the home," also stating: "I like the uniqueness of it. I like the price point of the Wii. I think retailers it are excited about both of those [points] as well."