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THQ Inc Announces 3 New Developments for E3 (NASDAQ:THQI)

With the E3 Expo one day away, THQI has released three business updates this morning. The first press release updates investors on THQ’s business outlook for this quarter, ending June 30th and the full year, ending March 31st 2011. Net sales for the quarter are projected in a range between $155 and $165 million a decrease from the original forecast of $190 to $200 million, from these projections, loss per share would equate to between $.20 to $.30 a share. 


For the year, net sales look to range between $845 and $865 million, roughly break even with earnings of $.25 to $.30 per share. 

UFC Undisputed has received rave reviews, but sales were lower than expected. THQI will be continuing its marketing campaign, promoting the game through advertisement and through event placement on July 4th when Brock Lesnar, featured on the cover, fights in UFC 116.   THQ encourages those at E3 to visit the booth and check out the product pipeline. 

In further news, THQ announced today de Blob2: The Underground, will be debuting on HD consoles and in 3D in spring 2011. The game was a hit sensation on the Wii, and allowed players to pilot a blog through Chroma city in fast paced painting challenges. The only complaint about the game was its lack of cross platform availability. The sequel will be released on Xbox 360, PS3, the Wii, and Nintendo DS. 
Finally, THQ will be announcing its full World Wrestling Entertainment video game product line up at E3 tomorrow including, WWE Smackdown vs. Raw, featuring online play, and WWE All stars. The company has an eight year agreement with WWE, catering to a very loyal fan base of wrestling lovers across the U.S. THQ also noted that several stars will be in attendance of E3 to support the game’s release at booth #2001.


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