Bumper year for THQ as sales top USD 1 billion

THQ ended its 2007 fiscal year by bursting through the USD 1 billion sales barrier and celebrating its 12th consecutive year of revenue growth.

The publisher saw strong sales of PC titles Supreme Commander and S.T.A.L.K.E.R.: Shadow of Chernobyl - both critically acclaimed - drive a strong Q4 where sales rose to USD 172.1m from USD 148.1m year-on-year.

That contributed to a net sales increase in the year ended 31st March 2007 of 27% to USD 1,026.9 million from USD 806.6 million in fiscal 2006.

Fiscal 2007 also saw THQ establish a pair of strong new IPs - Company of Heroes (PC) and Saints Row (Xbox 360) - while its traditional staples of WWE and licensed games (particularly Disney/Pixar's Cars) also performed very well.

CEO Brian Farrell said fiscal 2008 would see "an increasing number of titles for the growing base of new hardware" while the company also intends to launch new original properties including Frontlines: Fuel of War (targeting January 2008), in addition to driving sequels Juiced: Hot Import Nights and Stuntman: Ignition.

The publisher also reaffirmed its guidance for the year ending 31st March 2008, when it expects to post net sales in the range of USD 1.12 billion to USD 1.15 billion and net income in the range of USD 1.34 to USD 1.44 per diluted share.

The company also said that it had cancelled development of a PlayStation 3 port of Xbox 360 title Saints Row, preferring instead to concentrate its resources on a sequel for both platforms - something that Farrell said was "a right brand decision".