As part of its latest financial call, THQ further discussed its next-generation development plans. The company currently plans to release approximately 30 games for next-generation platforms. According to Brian Farrell, president and chief executive officer of THQ, the company will release 15-17 games for the Nintendo Game Boy Advance, 8-10 games for the Sony PlayStation 2, 4-5 games for the Microsoft Xbox, and it currently plans one game for the launch of the Nintendo GameCube. Many of the company's console titles, aside from such games as Red Faction and Championship Motorcross 2002, will be released in the fourth quarter to coincide with the launch of the Xbox and GameCube, and the holiday season.
THQ reported that its net income for the first quarter of 2001 was $860,000, compared to net income of $3,946,000 for the same period last year. The company expects net earnings in the range of 12 cents to 14 cents per diluted share for the quarter ending June 30.
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