Agoura Hills,
Calif. – On the eve of the game industry’s
largest convention, E3, publisher THQ (NASD: THQI) announced that it is lowering its
guidance for its fiscal first quarter and fiscal year ending March 31, 2011,
citing weak sales of its "UFC Undisputed 2010" title, and the
strengthening U.S. dollar.
The company lowered its quarterly sales forecast to
$155 million to $165 million, down from a previous projection of $190 million
to $200 million.
THQ now projects full year sales between $845 million and $865
million, down from $905 million to $920 million.
"UFC Undisputed 2010 is a
high quality game, with a Metacritic score of 85, based on the tremendous UFC
brand," said THQ president and CEO Brian Farrell.
"Unfortunately,
total sell through to date has been below our expectations and prior-year
results. While we are disappointed with this financial update, we continue to
execute on our plan of bringing quality games to market."
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