Strengthened portfolio of licensed franchises boosts Q1 sales of video games publisher.Several big name licences helped video games publisher THQ to strong net sales for its first quarter ending June 30th 2008.
The company reported net sales of $137.6 million for the three-month period, up from $104.5 million in the prior year.
First quarter sales were driven by the game based on Disney/Pixar's Wall-E, as well as continued strong sales of established franchise WWE Smackdown vs Raw.
During the quarter, THQ strengthened its portfolio of licensed franchises with the addition of new relationships with Marvel Entertainment and Dreamworks Animation - the firm will be publishing games based on Marvel Super Hero Squad and also has exclusive rights to publish games based on Dreamwork's 2010 film, Master Mind (working title).
In addition, during the fiscal first year, THQ shipped more than one million units of games based on Wall-E.
Despite the good sales, THQ did report a net loss for the three months ending June 30th of $27.2 million.