For the year ended December 31, 2000, pro forma net income was $26,742,000, or $1.28 per diluted share, on record revenue of $346,952,000. These results exclude a one-time charge and the operating results prior to September 30, 2000 of Volition, Inc., a game developer acquired in August 2000 and accounted for as a pooling of interests. Including the one-time charge and Volition’s results, net income for the year was $18,189,000, or $0.84 per diluted share. For 1999, net income was $31,326,000, or $1.48 per diluted share, on revenue of $303,483,000.
The Company attributed its record fourth quarter performance to strong sales of new wrestling and kids titles, two of THQ’s strongest segments, as well as the successful launch of its first PlayStation2 title, Summoner. Key titles released during the quarter included WWF Smackdown! 2: Know Your Role for PlayStation and WWF No Mercy for Nintendo 64, the multi-platform release of Rugrats in Paris (based on the movie) for PlayStation, Nintendo 64 and Game Boy Color, and Scooby-Doo!: Classic Creep Capers for Nintendo 64.
Brian Farrell, president and CEO of THQ, said, We are extremely proud of our accomplishments in light of a difficult market environment. Our strategy of harvesting the existing platforms while establishing a leadership position on the new platforms is serving us well.
SOURCE: COMPANY PRESS RELEASE
