THQI Shares Fall On Cut In Guidance

Video games maker THQ Inc THQI today cut its fiscal Q1 and annual earnings and sales guidance, as sales of THQI’s UFC Undisputed 2010 were lower than expected and the US dollar has become strong. The Agoura Hills, California-based company now expects a loss of $0.30-$0.20 a share on revenue of $155.0-$165.0 million for Q1 ending June 30, 2010. Earlier, the company expected to breakeven, while generating revenue of $190-$200 million. THQI now expects to breakeven in fiscal 2011 on revenue of $845.0-$865.0 million. THQ Inc had previously guided to $0.25-$0.30 of earnings per share on revenue of $905.0-$920.0 million. Shares of THQI plummeted 6.13% in the pre-market session. Read more from Benzinga's Company news.