THQ reported financial results for the fourth quarter and fiscal year ended March 31, 2011.

Q4 Non-GAAP net sales were $248.6 million, consistent with guidance of $245 - $260 million. Q4 Non-GAAP EPS of $0.15 was at the high end of guidance of $0.05 - $0.15.

A reconciliation of non-GAAP to GAAP results is provided in the accompanying financial tables.

“THQ posted strong fourth quarter results primarily driven by the success of Homefront,” said THQ President and CEO Brian Farrell. "We have already shipped 2.6 million units, a solid start for this new franchise, which kicks off the strongest pipeline of AAA core games in our history. We also continued to grow the uDraw franchise with the successful international debut of this compelling new tablet. Today, I am pleased to announce that we plan to bring exclusively designed uDraw GameTablets to Microsoft Xbox 360 and Sony PS3 platforms this holiday.”

Farrell continued, “We expect to generate significant growth, profitability and cash in fiscal 2012, driven by the latest installments of multi-million unit selling franchises, Saints Row, Red Faction, Warhammer 40,000, MX vs. ATV, UFC, WWE, and uDraw. 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. We also continue to aggressively invest in our digital initiatives, including online social and mobile offerings as well as our Warhammer 40,000: Dark Millennium Online MMO.”

FISCAL 2011 HIGHLIGHTS AND RECENT DEVELOPMENTS

Product Highlights

• Life to date, THQ’s new owned IP, Homefront, has shipped 2.6 million units
  • For the month of March 2011, Homefront was the #1 title on Xbox 360 and the #3 title on PS3, in the US and the top five European markets1.
  • Homefront remains the best-selling week-one new console release in 2011 in the UK.

  1Source: NPD (Total US Market, March 2011); GfK (Euro 5, March 2011)

• In fiscal 2011, THQ shipped:
  • 1.7 million units of the uDraw GameTablet,
  • 4 million units of WWE branded videogames: SmackDown vs. Raw 2011 and WWE All Stars, and
  • 3 million units of UFC Undisputed 2010.

New Franchises and Innovations

• In fiscal 2011, THQ added Homefront to its growing portfolio of owned brands, which includes Saints Row, Red Faction, Darksiders and MX vs. ATV.
• THQ brought to market the uDraw GameTablet, a first-of-its-kind, innovative new gaming accessory, which hit retail store shelves worldwide in fiscal 2011, gaining instant popularity for its creativity and unique functionality. Today the company announced plans to bring exclusively designed uDraw GameTablets to Xbox 360 and PS3 platforms this holiday.
• The company continued to increase its investment in digital content, including social and mobile games, today announcing plans to bring Jimmy Buffet’s popular Margaritaville brand to Facebook, iPad and iPhone in fiscal 2012.

First Quarter Fiscal 2012 Release Schedule

THQ has announced the following key releases scheduled for the first quarter of fiscal 2012: