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THQ’s Third Quarter Profits Fall Less Than Expected

Agoura Hills based video-game publisher THQ Inc saw its profits fall in the third quarter, with a decline in sales by 11 percent. Earnings fell to $46.6 million, or $0.72 per share, from last year’s earnings of $62.9 million, or $1.05 per share in the same period. Sales fell from $400.3 million to $357.8 million. While profits dropped, the company exceeded its projections and financial analyst expectations of $0.65 per share and sales of $320 million. THQ’s president and CEO Brian Farrell commented that 2006 was a transition year for the industry and said he expects positive growth in fiscal 2007.

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