THQ today announced financial results for the second quarter of fiscal 2008 that are consistent with the company's recently announced revised financial guidance. For the second quarter of fiscal 2008, THQ reported net sales of $229.3 million, driven primarily by shipments of Disney/Pixar's Ratatouille, as well as Stuntman: Ignition and Juiced 2: Hot Import Nights, each across multiple game systems. For the same period a year ago, THQ reported net sales of $240.2 million.

For the second quarter of fiscal 2008, THQ reported a GAAP net loss of $7.0 million, or $0.11 per share, which includes $0.08 per share of stock-based compensation expense. On a non-GAAP basis, excluding stock-based compensation expense, the company reported a net loss of $2.2 million, or $0.03 per share. For the same period a year ago, THQ reported GAAP net income of $11.6 million, or $0.17 per diluted share, which includes $0.08 per diluted share in stock-based compensation expense.

For the six months ended September 30, 2007, THQ reported net sales of $333.8 million, compared with $379.0 million in the corresponding prior-year period. The company reported a GAAP net loss of $16.3 million, or $0.24 per share, which includes $0.11 per share of stock-based compensation expense. On a non-GAAP basis, excluding stock-based compensation expense, the company reported a fiscal 2008 first half net loss of $8.4 million, or $0.13 per share. For the prior year period, THQ reported a GAAP net loss of $0.5 million or $0.01 per share, which included stock-based compensation expense of $0.10 per share. On a non-GAAP basis, excluding stock-based compensation expense, net income for the prior-year period was $5.9 million, or $0.09 per diluted share.

Highlights of the period included the announcement of Saints Row 2 for Xbox 360 and PlayStation 3 (to be released infiscal 2009; a doubling of its Nintendo DS revenue from the prior year - driven primarily by Ratatouille and the success of Drawn to Life; an agreement with American Girl for rights to publish video games based on the company's line of popular dolls and books; and and an announcment about the upcoming launch of its Xbox LIVE arcade portfolio featuring SpongeBob SquarePants: Underpants Slam.