THQ posts record results for fiscal 2006

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THQ posts record results for fiscal 2006

Game publisher THQ announced that it closed its fiscal year 2006, which ended on 31 March, with record revenues of $806.6 million, up from $756.7 million for fiscal 2005. Net income declined from $62.8 million to $34.3 million in the same time frame, due to “increased investment in product development in advance of the new generation of video game consoles,” the company said.

“THQ posted record net sales in fiscal 2006, fueled by our success with mass-market games based on our three core brands, Disney/Pixar, World Wrestling Entertainment and Nickelodeon, and the establishment of two new original franchises targeted to avid gamers, Juiced and Destroy All Humans!,” said THQ president and CEO Brian Farrell in a prepared statement.

THQ said it sold more than one million units each of the ten titles published during the year. WWE SmackDown vs. RAW 2006 sold three million units.