Monday, June 14, 2010
THQ Drastically Lowers Sales Guidance
Agoura Hills-based videogame maker THQ has drastically lowered its sales guidance, saying early this morning that it has updated fiscal guidance for its fiscal first quarter ending June 30th and fiscal year ending March 31, 2011, due to "lower than anticipated sales" of its title UFC Undisputed 2010, plus a strengthening US dollar. THQ said that it now expects its non-GAAP net sales for its fiscal first quarter to be between $155M and $165M, well below the previously expected $190M to $200M in first quarter sales. THQ said that demand for UFC Undisputed 2010 was "below our expectations" and also less than its prior-year results.