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THQ's Fourth Quarter To Be Better Than Expectated

While the early parts of 2012 had THQ pegged as being in quite a lot of trouble, it's now thought that thanks to high sales of hit title Saint's Row: The Third, the fourth quarter of the last financial year could turn things around for the firm.

The long-time publisher had to let a lot of employees go from the external as well as internal studios just a few months ago. It was also embroiled in a legal scuffle with Adidas over missing deadlines for its app turned game: miCoach, and even had to get Relic Games to switch the Warhammer 40,000 MMO - Dark Millenium - to a standard RPG in order to afford its completion.

However, the latest statement from the firm is that SR: The Third, UFC Undisputed 3 and strong digital sales might mean its end of year financials were much stronger than expected.

"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," it said in a statement.

"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 utilize 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."

The full details of THQ's 2011-2012 financial situation will be known on 15th May.

Source: VG247 (opens in new tab)

Dipping his toes into almost everything that could be labeled 'nerdy' in his free time, Jon has been writing about technology for over half a decade. While mainly focusing on PC hardware thoughout this time, today he's more varied, covering everything from gaming to general electronics, industry perspectives and consoles. As well as writing for different sites, Jon enjoys wargaming, reading and PC gaming, hoping to balance out these geeky pastimes with fire spinning and MMA.