Troubled publisher THQ has notified investors that its annual financial results will be better than forecast thanks in large part to the runaway success of Saints Row: The Third.
THQ made 240 staff redundant in February following losses of more than US$55 million in the October-December quarter, primarily due to the extremely poor performance of the uDraw tablet.
However, on the back of Volition’s sandbox title, THQ now expects to end FY2012 with a cash balance three times larger than forecast.
THQ has shipped more than 4 million copies of Saints Row: The Third, and digital sales are also higher than expected, says the publisher. Sales of UFC Undisputed 3 have also exceeded THQ’s expectations.
“The company expects to utilise a substantial portion of its cash and cash equivalents, as well as its credit facility [that it didn't dip into in financial Q4], as it launches its slate for the 2013 fiscal year, beginning with Darksiders 2,” reads the note to investors.
THQ has announced this morning that Darksiders 2 has been delayed into August.