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44
THQ INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
Fiscal Year Ended March 31,
2012 2011 2010
Net sales $ 830,841 $ 665,258
$ 899,137
Cost of sales:
Product costs 353,597 272,021 318,590
Software amortization and ro
y
alties 308,051 129,237 196,956
License amortization and ro
y
alties 74,632 118,287 110,503
Total cost of sales 736,280 519,545 626,049
Gross
p
rofit 94,561 145,713 273,088
O
p
eratin
g
ex
p
enses:
Product develo
p
ment 89,526 79,374 87,233
Sellin
g
and marketin
g
191,669 156,075 131,954
General and administrative 48,712 45,356 57,879
Restructurin
g
6,803 602 5,671
Total o
p
eratin
g
ex
p
enses 336,710 281,407 282,737
O
p
eratin
g
loss
(
242,149
)
(
135,694
)
(
9,649
)
Interest and other income
(
ex
p
ense
)
, net 5,143 524
(
2,056
)
Loss from continuin
g
o
p
erations before income taxes
(
237,006
)
(
135,170
)
(
11,705
)
Income tax ex
p
ense 5,500 928 247
Loss
p
rior to allocation of noncontrollin
g
interest
(
242,506
)
(
136,098
)
(
11,952
)
Loss attributable to noncontrollin
g
interest
—
—
2,935
Net loss attributable to THQ Inc. $
(
242,506
)
$
(
136,098
)
$
(
9,017
)
Loss
p
er share attributable to THQ Inc.
—
b
asic $
(
3.55
)
$
(
2.00
)
$
(
0.13
)
Loss
p
er share attributable to THQ Inc.
—
dilute
d
$
(
3.55
)
$
(
2.00
)
$
(
0.13
)
Shares used in
p
er share calculation
—
b
asic 68,369 67,910 67,522
Shares used in
p
er share calculation
—
dilute
d
68,369 67,910 67,522
See notes to consolidated financial statements.