THQ Celebrates UFC 2009-Based Profits

THQ has announced having seen videogame sales increase in the first quarter of the current fiscal year by some 77%, reaching 243.5 million dollars. The quarter, which ended on June 30, has been one of the most successful of the last few years for the publisher and responsible for that is mainly UFC 2009: Undisputed, which, until now, has sold close to 3 million copies world wide.

Profits for the quarter are at 6.4 million dollars and THQ is also emphasizing Red Faction: Guerrila, which has over 1 million units sold, as a very profitable release. In the same period last year, the company lost 27.2 million dollars.

THQ is keen on emphasizing that it has settled a legal dispute related to the WWE franchise with Jakks Pacific, which will bring the company 23 million during this quarter. This will enable the company to end 2010 as a profitable entity, with 50 million dollars more in the bank than last year.

Brian Farrell, the Chief Executive Officer of THQ, said that “Our first quarter results demonstrate the benefits of our more focused product strategy and aggressive cost management. These record results reflect the hard work and dedication of our employees around the globe.”

Still, the company might have a problem with the fact that it will release no big games during the second quarter of the year and also lacks a strong lineup for the crucial Christmas shopping period.

With UFC 2009: Undisputed proving to be a hit, THQ is planning on making it an annual franchise, which will probably end up being released during the spring and could replace the WWE videogames as its main focus. The franchise will likely have to face off against the new MMA games from Electronic Arts for title of best one-on-one fighting game.