Mark Androvich
16:09 (BST)
05/05/2008
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THQ: $1 billion in sales of Nickelodeon titles
While announcing its upcoming Nickelodeon licensed titles, THQ revealed that it has sold more than 50 million Nickelodeon titles worldwide with a value of over USD 1 billion.
THQ's 2008 Nickelodeon portfolio will include Drawn to Life: SpongeBob SquarePants Edition, Avatar - The Last Airbender: Into the Inferno, SpongeBob SquarePants featuring Nicktoons: Globs of Doom, Tak and the Guardians of Gross, Back at the Barnyard: Slop Bucket Games and a game featuring The Naked Brothers Band.
"With the enormous popularity of Wii and DS coupled with our exceptionally diverse portfolio of Nickelodeon-based games, THQ continues to lead in family entertainment," said Jim Huntley, director, global brand management, THQ.
"Gaming is one of the primary activities of our audience, whether it's online or on the console," said Steve Youngwood, executive VP, digital media for Nickelodeon/MTVN Kids and Family.
"THQ's interactive video games based on our hit shows have continued to help Nickelodeon maintain its position as a leader in gaming entertainment for the family, and we look forward to the addition of these new releases to our library."
Ahead of THQ's Q4 2008 report - which will be released tomorrow - Wedbush Morgan Securities analyst Michael Pachter believes that the company can deliver results well above those generated in FY 07 when the company earned pro forma EPS of USD 1.24, but acknowledged that most investors expect continued challenges from THQ's missteps in FY 08.
As a result, Pachter has lowered FY 09 revenue estimates from USD 1.2 billion to USD 1.15 billion and pro forma earnings per share from USD 1.45 to USD 1.25.
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