Article written by Joe Dart.
Published on 18/04/2012 at 08:45 PM.
A collective sigh of relief must have washed over THQ’s employees after the publisher reported better than expected results for its fourth fiscal quarter of 2012 (January-March).
As a result their stock has jumped by 45 per cent – the biggest increase for the publisher since 1991. THQ’s share price had previously slumped by 90% over the course of the last year, which had resulted in hundreds of job losses.
Strong sales of Saints Row: The Third has helped to turn the ailing publisher’s fortunes around, with over 4 million copies shipped to date and digital sales “higher than expected”. The publisher also recorded slightly better than anticipated sales for UFC Undisputed 3.
“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 2.”