THQ discloses annual loss of $240 million

It’s been no secret that THQ has experienced a rough financial year. Titles from the publisher have been delayed or cancelled, major staff layoffs were reported in February, and CEO Brian Farrell even took something of a pay cut (either as a PR stunt or a last resort).
Today, the publisher confirmed the extent of the damage, posting a net loss of $240 million USD for financial year 2011/2012. The financial briefing reconfirms the company’s “realignment plan”, which it claims will save $180 million USD in running costs for fiscal year 2013.
The same document also reveals that the Obsidian-developed South Park: The Game will not be released until the early months of 2013. A stand-alone expansion for Saints Row The Third called Enter the Dominatrix will arrive this September.
Source: investor.thq.com