THQ Profits Down Due to Flat UFC Sales and Lack of Red Faction

THQ announced its Q1 2011 earnings today, earning $149.4 million in net sales for the quarter ending June 30, 2011 down from $243.5 million last year. Last year's Q1 performance was strong with the release of both Red Faction: Guerrilla and UFC 2009 Undisputed.

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Though UFC Undisputed 2010 sold 2.7 million units, the original game sold 2.9 million units in the same time-frame. While 2.7 million units is nothing to laugh at, it is likely THQ expected to build upon the franchise with higher sales.

Buried within the report is the fact that Ninja Gaiden designer Tomonobu Itagaki's first title from Valhalla Game Studios, Devil's Third, will be released within THQ's fiscal year 2012 spanning April 2012 until March 2013.