May 4, 2011 11:53 GMT  ·  By

Video game publisher THQ has announced that it has lost no less than 136.1 million dollars during the 2010 fiscal year, which has just ended, a result that is significantly worse than the one posted for the fiscal year 2009, when the publisher managed to almost break even.

Overall revenue for the company was reported to have reached 665.3 million dollars for fiscal 2010, again a decrease when compared to the prior year, when it came in at 899.1 million dollars.

What is worrying for THQ is that the loss is about a fifth of its overall revenue, but the management team says that the fourth quarter shows the publisher is on the rebound, with increasing sales and shrinking losses.

Surprisingly, it was Homefront, the first-person shooter that was badly received when it launched and was widely panned for its short campaign and lack of innovation, which pushed the publisher forward during the fourth quarter.

Brian Farrell, who is the president and the chief executive officer at THQ, talked about the future of the publisher and stated, “We are creating a digital ecosystem for each of these games that will continue to keep consumers engaged and generate additional revenue opportunities beyond the initial retail sale.”

When it comes to the future THQ plans to perform better during the current fiscal year, with the management talking about “significant growth, profitability and cash.”

The most important franchises for THQ are: Red Faction, Saints Row, MX vs.ATV, Warhammer 40,000, UFC, uDraw and WWE.

THQ also says that it will be launching video games based on Jimmy Buffet's Margaritaville concept on Facebook, the iPad and iPhone during the next year.

The uDraw tablet, which has been successful when paired to the Nintendo Wii, will get versions that work on the PlayStation 3 and on the Xbox 360 in time for Christmas this year.