Chief executive officer of THQ, one of the largest publisher of video games in the world, said that the company does not expect stereoscopic 3D gaming to become any important in the next couple of years due to the lack of stereo 3D displays and HDTVs at hands of actual gamers.
There are some neat things we see. We need two things: we do need some additional console technology and I do not want to get into particulars on that, but more importantly and probably a little further out, is the install base of 3D-equipped TV sets or monitors. [I do not believe that stereo 3D] will be meaningful for a couple years. [We will] watch the ramp of 3D monitors,” said Brian Farrell, chief executive of THQ, during the quarterly conference call with financial analysts, reports Joystiq web-site.
The claim may mean that THQ will not invest any tangible amounts of money into development of video games optimized for stereo 3D output.
At present Nvidia Corp., a leading designer of graphics processing units (GPUs), is promoting heavily its Nvidia 3D Vision technology, which currently converts video games into stereo 3D mode automatically. The company sells Nvidia 3D Vision kit, which contains active-shutter glasses and a transmitter, and recommends to use select monitors or televisions. In addition, the company gives recommendations to video game developers regarding optimizations of games for stereoscopic 3D output.
THQ recently reported financial results for the fourth quarter and fiscal year ended March 31, 2010, demonstrating the company's significant financial turnaround in just one year.
For the twelve months ended March 31, 2010, THQ's net sales rose 8% to $899.1 million, compared with net sales of $830.0 million a year ago. On a non-GAAP basis, the company reported fiscal 2010 net sales of $888.7 million, up 9% from $812.6 million in the prior year.
For the fiscal year ended March 31, 2010, the company reported a net loss of $9.0 million, or $0.13 per share, compared with a net loss of $431.1 million, or $6.45 per share, in the prior year. On a non-GAAP basis, the company reported fiscal 2010 net income of $12.7 million, or $0.19 per diluted share, compared with a net loss of $101.8 million, or $1.52 per share, for the prior year. A reconciliation of non-GAAP to GAAP results is provided in the accompanying financial tables.
For the fourth quarter of fiscal 2010, THQ reported net sales of $197.7 million, up 16% from $170.3 million for the same period a year ago. On a non-GAAP basis, the company reported net sales of $197.4 million, up 28% from $154.3 million for the same period a year ago. Sales were driven primarily by new releases Darksiders and Metro 2033.
For the fourth quarter of fiscal 2010, the company reported a net loss of $10.4 million, or $0.15 per share, compared with a net loss of $96.9 million, or $1.44 per share, for the same period a year ago. On a non-GAAP basis, the company reported fiscal 2010 fourth quarter net income of $4.4 million, or $0.06 per diluted share, compared with a net loss of $36.4 million, or $0.54 per share, for the same period a year ago.