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Weapon 117
01-24-2008, 11:41 PM
THQ released today its fiscal third quarter report, revealing it has cancelled its Juiced and Stuntman intellectual properties along with the PS3 version of Frontlines: Fuel of War. Below is the press release with the announcement:

THQ Updates Fiscal 2008 Outlook

Non-Cash Charges Related to Previously-Announced Product Quality Initiatives to Impact Second Half

AGOURA HILLS, Calif.--(BUSINESS WIRE)--THQ Inc. (NASDAQ: THQI) today announced updated guidance for its fiscal third quarter ended December 31, 2007, and its fiscal fourth quarter and year ending March 31, 2008.

For the fiscal third quarter ended December 31, 2007, the company increased revenue guidance to approximately $509 million from $490 million, reflecting better-than-expected sales of WWE® SmackDown® vs. Raw® 2008 and MX vs. ATV™ Untamed. However, the company expects to report approximately $20 million in accelerated amortization expense related to the underperformance of certain previously-released games, including Stuntman®:Ignition™, Ratatouille and Conan®. In addition, consistent with the company’s previously-announced quality initiatives relating to product development and its product pipeline, the company expects to record non-cash charges of approximately $27 million related to:

1) the cancellation of the PlayStation® 3 (PS3) version of Frontlines™: Fuel of War™ and the PlayStation® 2 (PS2) version of Destroy All Humans!®: Big Willy Unleashed;

2) costs associated with two unannounced titles for Xbox 360 and PS3 that had been scheduled for release in fiscal 2010; and

3) the company’s decision not to pursue its Juiced™ and Stuntman® intellectual properties.

The company also announced the closure of its Concrete Games studio, which was working on one of the unannounced titles. THQ expects a substantial number of the studio’s employees to be offered positions in its other studios. The closure will be reflected in the company’s fiscal fourth quarter results.

“In October, we announced certain product quality initiatives, including personnel and structural changes in product development and a more rigorous internal and external product evaluation and feedback process,” said Brian Farrell, president and CEO of THQ. “Consistent with these initiatives, we have taken actions to strengthen our pipeline and position ourselves to compete aggressively with compelling, high quality games.”

As a result of these non-cash charges, the company now expects to report GAAP net income of approximately $0.22 per diluted share for the December quarter. On a non-GAAP basis, excluding stock-based compensation expense of approximately $0.01 per diluted share, the company expects to report net income of approximately $0.23 per diluted share for the quarter. Both GAAP and non-GAAP net income includes a $0.02 per diluted share gain from receipt of additional proceeds related to the sale of Minick AG in fiscal year 2007.

For the fiscal fourth quarter ending March 31, 2008, the company expects to report net sales of approximately $200 million, compared with its previous guidance of $240 million. Due to the significant online play component of Frontlines: Fuel of War on Windows PC, the revised expectations now include the deferral of approximately $10 million of revenue from that title. The revised sales expectations also reflect the cancellation of the PS2 version of Destroy All Humans: Big Willy Unleashed, which was previously scheduled to ship in March, and lowered expectations for several titles which launched earlier in the fiscal year. The company now expects to report a GAAP net loss of approximately $0.13 per share for the fiscal fourth quarter. On a non-GAAP basis, excluding stock-based compensation expense of approximately $0.07 per share, the company expects to report a net loss of approximately $0.06 per share.

As a result, for the fiscal year ending March 31, 2008, THQ expects to report net sales of approximately $1.04 billion and a GAAP loss per share of approximately $0.16, which includes approximately $0.21 per share of stock-based compensation expense. On a non-GAAP basis, excluding stock-based compensation expense, the company expects to report net income of approximately $0.05 per diluted share.

The company plans to report its fiscal third quarter financial results and outlook in more detail and to host a conference call on Tuesday, February 5, 2008, after market close.

Non-GAAP Financial Measures

This press release discloses forward-looking information that includes expectations that are not presented in accordance with United States generally accepted accounting principles (“GAAP”). Such non-GAAP financial measures exclude stock-based compensation expense and related income tax effects from THQ’s expected results for future periods. The non-GAAP financial measures included in the earnings release have been reconciled to the comparable GAAP financial measures and should be considered in addition to measures presented in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP financial measures.

When evaluating the performance of its business, THQ does not consider stock-based compensation charges. Likewise, THQ excludes stock-based compensation expense from its short and long-term operating plans. In contrast, THQ’s management team is held accountable for cash-based compensation and such amounts are included in the company’s operating plans. In addition, the stock-based compensation charges are subject to significant fluctuation outside the control of management due to the variables used to estimate the fair value of a share-based payment, such as, THQ’s stock price, interest rates and the volatility of THQ’s stock price. Further, when considering the impact of equity award grants, THQ places a greater emphasis on overall shareholder dilution rather than the accounting charges associated with such grants.


Source: http://news.teamxbox.com/xbox/15541/THQ-Cancels-Juiced-and-Stuntman-Franchises/

Bax x360a
01-25-2008, 12:01 AM
I've never really played either Juiced games so can't comment on them, but I'm said their ending the Stuntman franchise; I though Stuntman Ignition was a pretty good game. Hard, but good. I geuss they weren't making enough money from them... Tis a shame.

Darth Heyburt
01-25-2008, 01:00 AM
Raise your hand if you care about these two being canned....


...thought not.


They were both crappy third rate excuses for franchises, both linear and clearly underachievers... who knows maybe THQ will find their feet again and start releasing some good titles?

DFILL450
01-25-2008, 01:02 AM
I care about Stuntman being canceled. Juiced I could give a shit about since that game was complete garbage.

I hope someone else picks up Stuntman because that really is a great game.

gatorbait
01-25-2008, 02:31 AM
Only played a little bit of the original and the demo of the new one but I think the Stuntman series deserves its place in the market. There isn't really anything else out there along those lines and I think it has enough to be around for a while. Hopefully another company will pick them up and take that series further.

Never even played a Juiced game and feel like I'm not missing out on much.

willcrazyiii
01-25-2008, 03:23 AM
Yawn. Give us Saint's Row 2.

Hotoke
01-25-2008, 04:20 AM
I just remember playing Stuntman on GBA. Kinda cool, but I didn't get really much into it.

Never cared for Juiced, but as far as I know it's just a worst version of Burnout.

Cause
01-25-2008, 04:43 AM
I agree stuntman is a good franchise but jucied is comepletly garbage. I wish they would stick to making games that are superber instead of making 20 sequals of games that just suck. So i kinda really could care about them doing this. But hopefully they will get there act together and make some quailty additions to there other franchise

XxArmeddyxX
01-25-2008, 04:53 AM
I agree stuntman is a good franchise but jucied is comepletly garbage. I wish they would stick to making games that are superber instead of making 20 sequals of games that just suck. So i kinda really could care about them doing this. But hopefully they will get there act together and make some quailty additions to there other franchise

Seconded :drunk, the new Stuntman was actually well made and a lot of fun. Juiced on the other hand has always sucked and is just a cash in on the whole street racing vibe that everyone seems to be into.

Digilearner
01-25-2008, 05:01 AM
Hey, now now guys. Juiced 2 is kinda bad, but Juiced 1 was a great game. I think it was amazing. They killed number 2, so I'm upset they cancelled it, but damn, they needed to up their game, not kill a good one. I hated stuntman. Everything you do is wrong. Game was probably top 10 lamest games in history.

thecrazyguy
01-25-2008, 05:53 AM
Juiced deserved to be canceled. Night time street racing games are dead and there really was no where to take the franchise, and it didn't help that it sucked to begin with.

But Stuntman I'm sad to see go. Paradigm really nailed it with Stuntman Ignition. They built a good and fun game and laid such a good foundation for a sequel. Alas now we'll likely never see one.

Digilearner
01-25-2008, 05:57 AM
How can people say Juiced 1 sucked and Stuntman was better? That's so absurd. Stuntman was just plain horrible. They all were. Juiced 2, I really don't care about. Juiced 1 was probably one of the most under rated racing games and deserved more credit. From what I have played, not one stuntman even deserves a compliment...

XxArmeddyxX
01-25-2008, 06:09 AM
How can people say Juiced 1 sucked and Stuntman was better? That's so absurd. Stuntman was just plain horrible.

Stuntman was good because it was a unique concept and the newest version is executed really well. Juiced is just following in the footsteps of NFS Underground and the like, they're all the same carbon copy format. That how we can say Stuntman was better :woop:

Digilearner
01-25-2008, 06:28 AM
Er.....no...where have you been? Juiced followed it's OWN steps by doing racing safely in a course with pink slips and customization. Now what is Prostreet again? Oh yeah, it's the same thing Juiced was back in 05/06. Odd huh...... Stuntman was boring, choppy, and over all just a bad game. I played stuntman and wanted to vomit. I played Juiced 2 and wanted to choke THQ. Stuntman was not executed well, you never knew where to go, everything you did or wanted to do was wrong and it was lame as hell. Thats why it's no longer for sale.....well, being continued.....Juiced 2 is what killed the series, not Juiced 1. Btw, Hot Import Nights is a real car event, so it's not some made up bullshit.

Augustus
01-25-2008, 06:33 AM
For the hell they sent us through on the first Stuntman, all we can do is be thankful it's over.

SonOfNorris86
01-25-2008, 06:36 AM
No big loss either way. Even though I'm not to into it Juiced always seemed like a sub par Need For Speed. As for Stuntman I had high hopes for it on this gens hardware but I was dissapointed and don't see a reason for another sequel.

XxArmeddyxX
01-25-2008, 06:39 AM
lol i didn't say it was bullshit. Ok, first Stuntman sucked, way back when on Ps2, have you played the one out on 360? It's got great visuals, lots of signposting and fun courses. Haha i own Stuntman on Ps2, yeh, it sucked, i can admit that, but the Ignition was a step in the right direction and they dropped the series just as they had it figured. With Juiced 2 they took a step backwards and made the game worse, no wonder they dropped it

Digilearner
01-25-2008, 06:46 AM
Yeah, I say we call it a draw. Apparently it doesn't matter what we think, because both are dead now...lol

XxArmeddyxX
01-25-2008, 06:48 AM
Yeah, I say we call it a draw. Apparently it doesn't matter what we think, because both are dead now...lol

Haha agreed :D

ZombieJediMastr
01-25-2008, 07:06 AM
I'm just glad they aren't cancelling Frontlines for the 360.

Dizzy Domes
01-25-2008, 07:06 PM
I never played either Juiced games, because I didn't like the demos very much. I didn't care for the first Stuntman much either, but I also got frustrated with it so quick I didn't really give it time. I did however love Stuntman: Ignition. I only rented it, but I had a blast with it. Some of the hardest achievements I have earned were from that game.

Adam Miller
01-25-2008, 07:11 PM
They cancelled juiced....face...bovered..

Seriously though i kinda liked Stuntman. :(

Who128
01-25-2008, 07:13 PM
All I have to say is good riddance. Juiced was horrible, and Stuntman wasn't much better.

Tubson57
01-25-2008, 09:18 PM
I could never get into the Stuntman games. They were kind of hard and didnt really do justice for me.
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supadryz
01-25-2008, 10:29 PM
Juice series is tripe & thats a good move, stuntman on the other hand is rather original & there is nothing else like this in the market.

Blake
01-25-2008, 10:57 PM
Well it's alright both games weren't making much money so they had to be cancelled.

Siege Is Like
01-26-2008, 01:16 AM
stuntman has gone on for too long - it was good for the first 2 installments...not good, but a different style of game. juiced...idk. seems like a fake NFS.

Zee
01-26-2008, 04:05 AM
I never played the older Stunt man games but I loved Ignition.
Sad to see it go. Maybe it'll get picked up by another company.

sam49
01-26-2008, 09:21 AM
Eh, I dont care much anyway. Havent played any of the franchises anyway.

nbStryker
01-26-2008, 08:18 PM
Stuntman was awful if my memory recalls, Stuntman: Ignition was slightly better based on the demo alone....but I didn't trust it enough to take a chance.

Lord of Fate
01-27-2008, 01:02 AM
Aw this kinda sucks, I like Stuntman. I hate Juiced but Stuntman's cool.

Bolt
01-27-2008, 03:10 AM
i didn't really play either of those except for the demo and i didn't like 'em