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Agoura Hills-based THQ , the embattled videogame maker, is finally seeing some good news, reporting today that it is expecting to report non-GAAP netsales of $160 million to $170 million, above its previous outlook of $130 million to $150 million.
Agoura Hills-based THQ , a developer and publisher of video games, said Wednesday that it is making "additional cost reduction actions" which includes the layoff of approximately 600 people, or 24 percent of the company's workforce. Tags: employment jobs layoff video content game. READ MORE>>.
The revelation came as part of the firm's Q2 2009 results, when the firm said it had netsales of $91.2M, a 39% decrease from the $149.3M in sales it had in Q2 of 2008. Tags: power-one power supply employment jobs layoff. READ MORE>>.
Agoura Hills-based THQ has swung back into the black, saying Tuesday evening that it had net income of $6.4M on sales of $243.5M and sales of $137.6M for its fiscal first quarter, on the strength of the firm's new UFC 2009 Undisputed title. The positive results compared with a loss of $27.2M last year for the same quarter.
Seasonal sales fluctuations eat cash. Fluctuating sales means more inventory is required to cover the ups and downs. If you try to vary the number of employees to match, that costs even more cash for hiring, firing, and layoffs. Sales volumes are still ramping up while marketing expenses are at max.
Seasonal sales fluctuations eat cash. Fluctuating sales means more inventory is required to cover the ups and downs. If you try to vary the number of employees to match, that costs even more cash for hiring, firing, and layoffs. Sales volumes are still ramping up while marketing expenses are at max.
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