THQ held their quarterly financial earnings call yesterday and things may be looking up for the troubled publisher. While not out of the woods yet, results from the final quarter of 2012 and the year as a whole are hopeful. The publisher is running out of time, though, with NASDAQ’s delisting deadline looming. The company has five and a half weeks to evidence ten consecutive days of trading over $0.99 per share.
One way to accomplish this is, of course, to raise the stock price naturally. It’s currently at $0.60, down from an opening of $0.68 today. While this is up a bit from the end of March, when we spoke with Executive Vice President Danny Bilson, it still isn’t climbing fast enough. The alternative is to call for a 2:1 reverse stock split, which will halve the number of shares but double their value. This needs to be timed appropriately, though. Should the reverse split happen too early and the stock price dip back down, things could begin to look very bleak.
Additionally, on the call, news about a couple of upcoming titles emerged. Darksiders II will be released on August 14 after missing its original launch date of June 26. The extra time should give Vigil Games the opportunity to tighten things up and make the game the worth sequel the series deserves.
We also now know that Saints Row: The Third – Enter the Dominatrix will be out in September. The expansion will build upon the success of last year’s sandbox mayhem simulator, of which 4.25 million units have been shipped. It was one of my favorite games of 2011, and I’m excited to see how the expansion enhances and improves the formula.
Unexpectedly, the South Park RPG (rumored to be titled The Stick of Truth), has been delayed until early 2013. This isn’t a huge shock, as during our conversation with Bilson, the chance of the game slipping into next year was already a distinct possibility.
The final bit of news will disappoint fans of former Team Ninja head Tomonobu Itagaki. His next title, Devil’s Third, no longer is in line with THQ’s “profitability profile.” The reasoning seems sound as the developer of the game’s engine has gone out of business and the Yen has increased in value, reducing profitability. Of course, if I were looking to sell a game to another publisher, I certainly wouldn’t comment on a title’s quality if it weren’t shaping up well.
We also know that THQ won’t have their own booth at E3 or Gamescom, but they will be showing titles. We’re going to be at the show, bringing you updates on Darksiders II, Company of Heroes 2 and Metro: Last Light (both slated for an early 2013 release).