THQ today held its fiscal 2008 fourth quarter and year end results conference call, where CEO & President Brian J. Farrell got right to the point: "In fiscal 2008, we did not achieve our revenue and profitability goals." Ya don't say?
For the fiscal year ending March 31, 2008, THQ racked up a net loss of $35.3 million, compared to the prior year's net income of $68.0 million. (Peep the full report
for the complete numbers game.) Farrell waved a damning finger at Juiced
, saying these games were "simply not competitive," and lamented spending too much on marketing for these titles, which clearly did not reach sales objectives. Farrell also noted that THQ's usually strong success in the kids market was met by greater competition this past fiscal year (or, put another way, a helluva lot more lesser
competition shoveled onto Wii).