"We are committed to publishing quality titles that offer a compelling game experience," said Brian J. Farrell, THQ's president and CEO. "We view Sphinx and Warhammer as important new products and we believe the extra time is critical to ensuring the best possible product quality. In addition, we expect the concurrent launch of Sphinx on three consoles to maximize the title's potential. While the revised ship dates for Sphinx and Warhammer do not change our guidance for the 2004 fiscal year, they will result in moving revenues and earnings from the September quarter to the December quarter."
As a result of the new schedule, THQ updated earnings guidance for the second quarter of fiscal 2004 to anticipated net income of approximately $0.01 per diluted share on net sales of approximately $105 million. Previously, the company provided guidance of approximately $0.08 per diluted share on net sales of $120 million for the quarter. For the fiscal year ending March 31, 2004, the company reaffirmed its previous guidance of net sales in the range of $530 million to $540 million and net income in the range of $0.80 to $0.85 per diluted share.