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THQ Details Buyers, Numbers After Fire Sale

socalTECH

Troubled Agoura Hills-based videogame maker THQ has officially been broken up into pieces and sold, according to the firm Wednesday evening, after a U.S. Bankruptcy Court has granted a motion to approve a sale of the majority of THQ's assets to multiple buyers. READ MORE>>.

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THQ Raises Q4 Outlook

socalTECH

Agoura Hills-based THQ , the embattled videogame maker, is finally seeing some good news, reporting today that it is expecting to report non-GAAP net sales of $160 million to $170 million, above its previous outlook of $130 million to $150 million.

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THQ Chops 30

socalTECH

Agoura Hills-based THQ , the developer of videogames, has cut 30 of its staff, due to poor performance of its uDraw tablet for the Wii, Xbox 360, and PS3. The cuts were due to "weaker than expected" sales of the gaming accessory. READ MORE>>.

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THQ To Lay Off 600

socalTECH

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. THQ said the move was a response to the continuing uncertainty in the market. READ MORE>>.

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THQ Gains On UFC Title

socalTECH

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.

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THQ Cuts 250 Employees

socalTECH

Agoura Hills-based video game maker THQ said late Wednesday that it is cutting 250 employees, or 17% of its staff, after reporting disappointing results. THQ said it would undertake a "significant" business realignment as its looks to focus on fewer, higher quality titles. READ MORE>>

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