T-HQ Reports Net Loss of $431,000 in 1st Quarter
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Calabasas-based T-HQ Inc., a maker of interactive entertainment software, reported a first-quarter net loss of $431,000, compared with a loss of $2.56 million during the first quarter a year ago.
Revenues for the quarter ended March 31 were $4.3 million, down 14% from $5 million in sales from a year earlier.
Brian J. Farrell, who was elected president and chief executive officer of T-HQ in January, attributed the improved results to new products released for the Nintendo Game Boy, the Super Nintendo Entertainment System and Sega Genesis platforms.
But he said revenues declined overall for the quarter because the company had fewer sales of older reduced-price products. Farrell said the company was stabilizing operations in part by reducing expenses.
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