THQ has been in trouble for a while now. The game development and publishing company saw its product line and profit margins fall to shambles as they pumped money into the uDraw Tablet and licensed franchises that went absolutely no where.
After losing millions on bad publishing choices, THQ saw itself threatened with a delisting from the NASDAQ this past January, thus potentially taking it off of a money fetching marketplace. The delisting warning came as THQ’s shares stopped being sold at more than $1 a piece.
Today, THQ announced by way of a brief press release that the company has passed that $1 minimum value on the NASDAQ and has survived the delisting threat.
…[THQ] has regained compliance with the minimum bid price rule for continued listing on The NASDAQ Global Select Market because the bid price of its common stock has closed at $1.00 per share or greater for at least 10 consecutive business days.
When the company was first met with dire straits late last year, they announced that they would be dumping all casual gaming efforts and focusing solely on core titles. Darksiders 2, the next game to launch from THQ, meets that brand new standard.
Sure, they’ve had a few bad releases under their tenure, but I certainly hope THQ sticks around for the long haul. The good games that they produce are genuinely fantastic. In fact, Saints Row the Third was one of my favorites from last year.
THQ Regains Compliance with NASDAQ Minimum Bid Price Listing Requirement
|AGOURA HILLS, Calif.–(BUSINESS WIRE)–Jul. 24, 2012– THQ Inc. (NASDAQ:THQI) today announced that it has received notification from NASDAQ that it has regained compliance with the minimum bid price rule for continued listing on The NASDAQ Global Select Market because the bid price of its common stock has closed at $1.00 per share or greater for at least 10 consecutive business days.About THQ
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers, wireless devices and the Internet. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found athttp://www.thq.com/. THQ and its logo are trademarks and/or registered trademarks of THQ Inc.
THQ Inc. Caution Concerning Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as “THQ”), including, but not limited to statements regarding the company’s future business goals and expectations and future video game line-up. These statements are based upon management’s current beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, business, competitive, economic, legal, political, and technological factors affecting our industry, operations, markets, products, or pricing. Readers should carefully review the risk factors and the information that could materially affect THQ’s financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal period endedMarch 31, 2012, and particularly the discussion of trends and risk factors set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.