toggle

AAPL Stock: 113.29 ( + 0.37 )

Printed from http://www.macnn.com

Game publisher THQ delays games, suspends financial forecast

updated 05:59 pm EST, Mon November 5, 2012

Poor title performance, uDraw costs cited as reasons

While game publisher THQ exceeded its most recent quarterly projections, the company has warned that three of its titles will be released significantly later than previously planned, and as a result it will need to generate additional capital to continue operations. All financial guidance for the remainder of the fiscal year through March 2013 has been suspended.

THQ has hired Centerview Partners to revaluate the company's finances and to generate additional fiscal alternatives. The most pressing issue is that the company needs to address the August 2014 due date of $100 million in convertible senior notes.

"There can be no assurance that the evaluation of strategic and financing alternatives will result in a transaction or financing, or that, if completed, said transaction and/or financing will be on attractive terms," the company said in a statement. The company went on to say that no further public announcements would be made until a deal is concluded. THQ stock trades were suspended following the news, with the stock trading at $3.02 per share.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented