THQ Increases forecast for the Quarter Ending March 31, 2012 - NewsWilliam D'Angelo , posted on 18 April 2012 / 2,733 Views
THQ has increased its forecast for the quarter ending March 31, 2012, due to a higher than expected sales of Saints Row: The Third and UFC Undisputed 3. THQ expects sales of $160 million to $170 million, up from $130 million to $150 million. THQ also expects a net loss per share to be smaller than the original forecast. It was lowered to $0.10 to $0.20, down from a loss of $0.35 to $0.50.
THQ expects its year end cash balance to be $76 million at March 31, 2012, which is three times higher than was originally expected. The company also has no outstanding borrowings on its credit and did not borrow any extra money. THQ "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."
THQ will report its fiscal year 2012 fourth quarter and full year results on May 15,2012. THQ will also provide an outlook for its fiscal year 2013.