TheLion.com - Forum

From: NewTraderLearn (Rep: 21) reply to PornStarTrader

Date: 05/15/2012 19:14

Forum: THQ - Msg #976

Thread #673402220 (Rec: 0)

Re: Nice earnings. $76 million cash no debt and valued at $46 million...wtf

There income statement SUCKS Big Time there losing way to much money there gross profits is next to nothing there spending way to much money on well virtually everything

THQ Inc. and Subsidiaries
Unaudited Consolidated Statements of Operations
(In thousands, except per share data)

Three Months Ended Twelve Months Ended
March 31, March 31,
2012 2011 2012 2011

Net sales $ 184,235 $ 124,237 $ 830,841 $ 665,258
Cost of sales:
Product costs 73,655 52,463 353,597 272,021
Software amortization and royalties 90,532 24,711 308,051 129,237
License amortization and royalties 15,731 9,039 74,632 118,287
Total cost of sales 179,918 86,213 736,280 519,545

Gross profit 4,317 38,024 94,561 145,713
Operating expenses:
Product development 14,681 27,007 89,526 79,374
Selling and marketing 25,073 47,904 189,110 156,075
General and administrative 13,569 12,229 48,712 45,356
Restructuring 1,341 455 6,803 602
Total operating expenses 54,664 87,595 334,151 281,407

Operating loss (50,347 ) (49,571 ) (239,590 ) (135,694 )
Interest and other income (expense), net 999 4,882 5,143 524
Loss before income taxes (49,348 ) (44,689 ) (234,447 ) (135,170 )
Income taxes 3,890 (633 ) 5,500 928
Net loss $ (53,238 ) $ (44,056 ) $ (239,947 ) $ (136,098 )

Loss per share — basic $ (0.78 ) $ (0.65 ) $ (3.51 ) $ (2.00 )
Loss per share — diluted $ (0.78 ) $ (0.65 ) $ (3.51 ) $ (2.00 )

Shares used in per share calculation — basic 68,437 68,119 68,369 67,910
Shares used in per share calculation — diluted 68,437 68,119 68,369 67,910

Those Losses are NASTY That Income statement is just plum UGLY Even the balance sheet now it once looked nice has turned into where the shareholders equity is now negative thanks to all the losses at the company

This company reminds me or TRID they keep losing money and the company is going to end up in bankrpuptcy only one word HORRIBLE MANAGEMENT i dunno even if this company can be turned around or not looks like mission impossible

Total stockholders' equity (29,768 )

Strong Sell bankruptcy and pink sheets coming if they keep this up

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Reply to PornStarTrader - Msg #2270251 - 05/15/2012 16:57

Re: Nice earnings. $76 million cash no debt and valued at $46 million...wtf

Actually they do have debt, $100 Million of it outstanding

http://cxa.gtm.idmanagedsolutions.com/finra/BondCenter/BondDetail.aspx?ID=ODcyNDQzQUIy

They do not have any outstanding debt under the new $50 MIll credit facility is what you are talking about. Basically on the new bank credit line they have not borrowed yet. But that is not debt free. FWIW

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