Saints Row: The Third Ships 4 Million, as THQ Looks Ahead to a Strong Q4
Written Wednesday, April 18, 2012 By Richard WalkerView author's profile
Things have been looking rather bleak for THQ recently, following rumours that the publisher had reportedly cancelled its entire 2014 schedule, which the publisher vehemently denied. But now things seem to be looking up, as THQ has posted preliminary results for its fourth quarter, with expected non-GAAP net sales in the region of $160 million to $170 million.
It's hoped that Q4 will "exceed expectations" for THQ, thanks to strong figures from Saints Row: The Third, which has shipped four million copies to date, while sales of UFC Undisputed 3 have been "slightly higher than expected", THQ says.
“THQ expects to report cash and cash equivalents of approximately $76 million at March 31, 2012, three times higher than the previous expectation for its year-end cash balance, due to better-than-expected operating results in the fourth quarter, as well as earlier-than-anticipated cash receipts,” THQ reported.
“Additionally, the company ended the quarter with no outstanding borrowings on its $50 million credit facility, and did not borrow against the facility during the quarter. The company expects to utilise a substantial portion of its cash and cash equivalents as well as its credit facility as it launches its slate for the 2013 fiscal year, beginning with Darksiders II.”
Darksiders II will be THQ's next big title, due to releaseon June 26th in North America and June 29th in Europe. THQ's financial call meanwhile, is set for May 15th.