THQ's 3Q Income Increases Two-Fold
For the third-quarter, THQ has announced that they're net income has gone up 144%!
Published: October 23, 2001
THQ announced that their net income for the third quarter ended Sept. 30, 2001, increased 144 percent to $3,214,000 or $0.14 per diluted share on a 28 percent increase in revenue to $68,045,000.
For the third quarter of 2000, net income was $1,315,000 or $0.06 per diluted share on revenue of $53,293,000.
For the nine months ended Sept. 30, 2001, net income increased 195 percent to $7,528,000 or $0.33 per diluted share compared with net income (before a non-cash charge) for the first nine months of 2000 of $2,549,000 or $0.13 per diluted share. Revenue increased 17 percent to $182,609,000 from $156,090,000 for the same period last year.
Brian Farrell, president and chief executive officer of THQ, said the following in regards the the announcement:
[blockquote]"Our third-quarter performance exceeded our expectations. Highlights for the quarter included continued strong sales of our internally developed PlayStation 2 games, 'MX 2002 featuring Ricky Carmichael' and 'Red Faction', both of which contributed significantly to these outstanding results. We are pleased with the success of the PC version of 'Red Faction', a top-ten title since its release according to NPD's TRST data. We reinforced our leadership position in the hand-held market with the release during the third quarter of ten new titles for Game Boy Advance."[/blockquote]
More news as it develops.
For the third quarter of 2000, net income was $1,315,000 or $0.06 per diluted share on revenue of $53,293,000.
For the nine months ended Sept. 30, 2001, net income increased 195 percent to $7,528,000 or $0.33 per diluted share compared with net income (before a non-cash charge) for the first nine months of 2000 of $2,549,000 or $0.13 per diluted share. Revenue increased 17 percent to $182,609,000 from $156,090,000 for the same period last year.
Brian Farrell, president and chief executive officer of THQ, said the following in regards the the announcement:
[blockquote]"Our third-quarter performance exceeded our expectations. Highlights for the quarter included continued strong sales of our internally developed PlayStation 2 games, 'MX 2002 featuring Ricky Carmichael' and 'Red Faction', both of which contributed significantly to these outstanding results. We are pleased with the success of the PC version of 'Red Faction', a top-ten title since its release according to NPD's TRST data. We reinforced our leadership position in the hand-held market with the release during the third quarter of ten new titles for Game Boy Advance."[/blockquote]
More news as it develops.
