THQ released their first quarter 2008 financial results today and things looked pretty stable during the past three months. THQ reported net sales of $104.5 million, which is down from $138.8 million during the same period last year.
Sales were driven by strong performances of Ratatouille (shipped more than one million units) and continued support from Cars and Smackdown vs. Raw 2007.
THQ also reported a net loss of $9.3 million, which is down from $12.1 million during the same period last year. In response to the news, Brian Farrell, President and CEO of THQ, said, "Fiscal 2008 is shaping up as we anticipated. Ratatouille is off to a successful start in North America. With five titles based on owned intellectual properties expected to ship more than one million units each and a proven family and casual line-up for the popular Nintendo Wii and DS platforms, we are well positioned for the rest of the year."
Some new and upcoming games include puzzle game de Blob, action game Darksiders and a new Red Faction game; all of these games are expected in 2008 and 2009. THQ also said that the Xbox Live demo of Stuntman: Ignition exceeded over 500,000 downloads, which mirrored the success of the Saints Row demo a year earlier and touted the announcement of Company of Heroes Online.
