THQ today announced financial results for the first quarter of fiscal 2008 and reaffirmed its net sales and EPS guidance for the full fiscal year. For the first quarter of fiscal 2008, THQ reported net sales of $104.5 million, driven primarily by shipments of more than one million units of Disney/Pixar's Ratatouille videogames and strong catalog sales led by Disney/Pixar's Cars and WWE SmackDown! vs. Raw 2007. For the same period a year ago, THQ reported net sales of $138.8 million. For the first quarter of fiscal 2008, THQ reported a net loss of $9.3 million, or $0.14 per share, which included stock-based compensation expense of $0.05 per share, and a tax benefit of $0.10 per share related to prior years that will not change the company's expected full-year tax rate. For the first quarter of fiscal 2007, THQ reported a net loss of $12.1 million, or $0.19 per share, which included stock-based compensation expense of $0.03 per share.

THQ also reaffirmed previous guidance for the full fiscal year ending March 31, 2008 and provided initial guidance for the fiscal second quarter ending September 30, 2007: for the fiscal year ending March 31, 2008, THQ expects net sales in the range of $1.12 billion to $1.15 billion and net income in the range of $1.34 to $1.44 per diluted share. This excludes forecasted stock-based compensation expense of $0.23 per diluted share. For the second quarter of fiscal 2008, the company expects net sales of approximately $240 million and net income of approximately $0.10 per diluted share, excluding forecasted stock-based compensation expense of $0.07 per diluted share.