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THQ Reports Record Sales and Net Income

THQ Inc, a Calabasas Hills video game developer reported net earnings of $10.1 million or $0.24 on revenues of $171.9 million in its fourth quarter ended on March 31, 2005. For the full year, the company earned $62.8 million, or $1.56 per diluted share on record sales of $756.7 million. “THQ’s record growth in fiscal 2005 demonstrated our success in increasing sales of games based on our three core brands, Disney/Pixar, Nickelodeon and World Wrestling Entertainment, and also delivering strong performance from internally developed titles targeted to avid gamers, such as MX vs. ATV Unleashed, The Punisher and Warhammer 40,000: Dawn of War,” said Brian Farrell, president and CEO of THQ. For the quarter ending in June, THQ expects a loss of 15 cents per share on higher sales between $135 and $140 million.

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