THQ losses beat expectations in fiscal first-quarter 2013

THQ has announced that it’s lost less than expected in the first quarter of its fiscal year — which actually good news for the video game publisher that recently escaped NASDAQ delisting.

THQ reported net sales of $38.6 million for the first quarter of 2013. This beat the company’s previous projection of $25 million to $30 million. According to its financial report, the corporation lost $3.41 per share, which also beat the $4.00 to $4.50 per share expectation it provided earlier in the year.

“We have made significant progress reshaping the company. With the changes implemented over the last several months, we are in a much better position today to deliver on our pipeline of games, beginning with Darksiders II, which launches next week in North America,” said THQ chairman and chief executive officer Brian Farrell.

THQ has been in a transitional state since it began phasing out its children-focused slate of Nickelodeon licensed titles and uDraw artistic products. The publisher brought in developer Naughty Dog (the Uncharted series) founder Jason Rubin to take over the position of company president. THQ made more leadership changes when it brought in new chief strategy officer Jason Kay and new executive vice president of production Ron Moravek.

The publisher releases Darksiders II on August 14 for Xbox 360, PlayStation, and PC. The company will also release a sequel to the well-received Saints Row: The Third in 2013 called Saints Row: Enter the Dominatrix, which began as an expansion to the previous game.

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