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HOME > Analysis >Story Stocks >THQ Inc. Down Sharply After...
Story Stocks® Archive
Last Update: 08-Dec-11 09:52 ET
THQ Inc. Down Sharply After Reducing Sales Guidance Late Yesterday
THQ (THQI $1.10 -0.36) is trading sharply lower this morning after slashing its third quarter sales guidance after the close yesterday by 25%.

Late yesterday, the company said it now expects to report net sales for the third quarter of approx 25% below its previously announced guidance of $510 million to $550 million. This equates to revs of approx. $382.5 million to $415.5 million versus the $527.23 million Capital IQ Consensus Estimate.

"Despite uDraw's strong success on the Wii in fiscal 2011 and market research indicating strong demand for uDraw on Xbox 360 and PlayStation 3, initial sales of our uDraw tablet and software on these high-definition platforms have been weaker than expected... WWE '12 and Saints Row: The ThirdTM are expected to perform at or better than the levels we discussed on our fiscal 2012 second quarter earnings call. As we continue to move through the third quarter, we are focused on driving sales of our key holiday titles and maximizing profitability."
THQ (THQI $1.10 -0.36) is trading sharply lower this morning after slashing its third quarter sales guidance after the close yesterday by 25%.
 
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