For the fiscal year ended March 31, THQ generated net sales just over $1 billion, a 27 percent increase from fiscal 2006's $806.6 million.
This year was THQ's 12th consecutive year of revenue growth. The company grew revenues by over 20 percent in the major geographical regions, outpacing the overall industry.
Annual net income was also up, coming in at $68 million for the year compared to $32 million a year prior. Fiscal fourth quarter sales were $172.1 million, up from $148.1 million, while net income was $6.5 million compared to last year's net loss of $8.6 million.
Q4 PC games Stalker: Shadow of Chernobyl and Supreme Commander drove quarterly sales, along with continued sales of Cars and WWE. During the company's quarterly conference call, CEO Brian Farrell said that THQ is in a prime position to take advantage of the growing new console generation.
THQ reaffirmed previous fiscal 2008 guidance of $1.12 billion to $1.15 billion in sales. Q1 sales guidance is $110 million.
THQ CFO Edward Zinser said during the call that THQ's expections are based on calendar 2007 North American hardware shipment projections of 5.5-6 million Xbox 360s, 5-5.5 million Wiis, 3.5-4 million PS3s, 3-3.5 million PS2s, 9.5-10 million DSes and 3-3.5 million PSPs. Regarding Europe and other PAL territories, during the same period, the publisher expects shipments of 2.5-3 million Xbox 360s, 4-4.5 million Wiis, 3.5-4 million PS3s, 3.5-4 million PS2s, 8-8.5 million DSes and 3-3.5 million PSPs.
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