By Malathi Nayak
SAN FRANCISCO Nov 5 Video game publisher THQ
Inc reported a smaller net loss even as revenue fell in
its fiscal second quarter as it continued to grapple with a weak
The company, known for its wrestling videogames, announced
that the spring 2013 launch of South Park: The Stick of Truth,
based on the popular animated television series, was postponed
The release of strategy game "Company of Heroes" and
first-person shooter "Metro:Last Light," that were expected to
hit stores in March have also been delayed.
THQ said it has hired Centerview Partners LLC as it
evaluates financing and strategic alternatives to raise capital
and improve liquidity to tackle its new release calendar.
The company said total revenue dropped to $91.8 million from
$119.6 million a year ago. It posted a net loss of $12.1
million, or $1.76 per share, compared to a net loss of $46.9
million, or $6.86 per share, a year ago.
Wall Street analysts on average expected the company to
report a net loss of $3.47 per share, according to Thomson
Reuters I/B/E/S. The company also exceeded Wall Street's revenue
expectations of $84.26 million.
Ahead of the earnings report, shares of the games maker rose
5.6 percent to close at $3.02 on the Nasdaq. After-hours trade
was halted pending the results.