I posted this also on GR.org
THQ just had their financial earnings conference call. It was grim. Below are the highlights. As for COH, no mention at all of a COH2 nor even Relic. Most of the focus of the call was on the broader restructuring plan. The outlook is also pretty horrific.
* THQ cut its FY12 (Mar-2012) Revenue forecast to $800-820M and they also expect a Net Loss of approx -$110 to -$120M.
* THQ currently has cash of $48M, but they expect this will go to $25M by the end of their fiscal year (March). Cash is dwindling rapidly
* THQ now expects FY13 (Mar-2013) revenues to approx be "half" the level of FY12. This is approx $400M. They are shrinking the revenue base dramatically
* the uDraw game was an utter disaster. This game came in -$100M below plan and was the main driver that led to the restructuring. The Kids games also came in -$25M below plan and they have totally exited all of this business
* THQ title slate for FY13 now as follows: Darksiders2, South Park RPG, WWE, Metro Last Light, and Devil's Third.
* THQ title slate for FY14 now as follows: Turtle Rock game, Warhammer Dark Millenium MMO, iNSane, Homefront2, Patrice Desilet's game, and 4 other unannounced titles
* If there is a COH2, its maybe one of these "unannounced" games and it won't come out until FY14 at the earliest
* I'm not sure THQ can survive that long. They are burning cash rapidly and they will only have $25M by March. If the game slate they have for FY13 don't sell and are profitable, THQ won't be around long enough to finish their FY14 title slate
* You have to believe Darksiders 2 and SouthPark are hits or else this company will be gone....