Some bad news for THQ share holders today. For the quarter ending on June 30, non-GAAP losses grew to $64.4 million compared to the same period last year where a loss of $14.4 million (non-GAAP).
"We are disappointed in our first quarter financial performance. Sales of Red Faction: Armageddon and our licensed kids titles were below our expectations, and the late release of UFC Personal Trainer also adversely impacted the quarter," said Brian Farrell, THQ President and Chief Executive Officer. "Despite a light first half, we are looking forward to a strong and profitable second half, including what we expect to be the biggest third quarter, both in revenue and earnings per share, in our company's history, with proven franchises Saints Row, WWE and the uDraw GameTablet, all launching in November."