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Ruined · 02-22-2003, 09:53 PM

from GAMEPRO

THQ Scales Back GameCube Support
20-FEB-03

At a conference call held today, THQ reported that they will cancel a number of current projects and scale back its support for the GameCube in 2003 and beyond. The news comes as the publisher warned of substantial losses in the first quarter of this year, after a profitable but still disappointing holiday-season performance.

A total of 20 game projects, all under external development, have gotten the axe from THQ, a third of which were for the GameCube. "Our GameCube portfolio did not perform up to expectations," CEO Brian Farrell said during the conference call. "In response to this, we have reduced the number of products in development for the GameCube platform."

THQ recorded a profit of $3.1 million and record revenues of $217.8 million for the last three months of 2003, about half as much profit as they predicted at the start of the quarter. The company predicts losses for the first half of 2003, but expects to take in revenue of between $520 million and $530 million for the entire year.

Interestingly enough, the company reported a one-time charge of $1.6 million for disposing of WWF-labeled games after the wrestling federation changed its name to WWE last year. If any of them survived, we'd imagine they could be pretty valuable in a few years.

02-22-2003, 09:53 PM	#1 (permalink)
Ruined It's Good to Play Together Join Date: Oct 2001 Location: NJ, USA	THQ cuts back on Gamecube support from GAMEPRO THQ Scales Back GameCube Support 20-FEB-03 At a conference call held today, THQ reported that they will cancel a number of current projects and scale back its support for the GameCube in 2003 and beyond. The news comes as the publisher warned of substantial losses in the first quarter of this year, after a profitable but still disappointing holiday-season performance. A total of 20 game projects, all under external development, have gotten the axe from THQ, a third of which were for the GameCube. "Our GameCube portfolio did not perform up to expectations," CEO Brian Farrell said during the conference call. "In response to this, we have reduced the number of products in development for the GameCube platform." THQ recorded a profit of $3.1 million and record revenues of $217.8 million for the last three months of 2003, about half as much profit as they predicted at the start of the quarter. The company predicts losses for the first half of 2003, but expects to take in revenue of between $520 million and $530 million for the entire year. Interestingly enough, the company reported a one-time charge of $1.6 million for disposing of WWF-labeled games after the wrestling federation changed its name to WWE last year. If any of them survived, we'd imagine they could be pretty valuable in a few years. __________________ For every shadow, no matter how deep, is threatened by morning light.