For the twelve months ended March 31, 2009, THQ reported net sales of $830.0 million, compared with net sales of $1,030.5 million a year ago. On a non-GAAP basis, the company reported fiscal 2009 net sales of $812.6 million, compared with $1,061.0 million in the prior year. For the fourth quarter of fiscal 2009, the company reported a net loss of $96.9 million, or $1.44 per share. For the same period a year ago, THQ reported a net loss of $34.5 million, or $0.52 per share. On a non-GAAP basis, the company reported a fiscal 2009 fourth quarter net loss of $36.4 million, or $0.54 per share. For the same period a year ago, the company reported a non-GAAP net loss of $24.8 million, or $0.37 per share. A reconciliation of non-GAAP to GAAP results is provided in the accompanying financial tables.

"In light of a challenging fiscal 2009, we have substantially completed a significant realignment of our business to position THQ for profitability and positive cash flow in fiscal 2010," said Brian Farrell, THQ president and CEO. "We have taken decisive actions to achieve our cost saving objectives, eliminating $220 million in cash expenditures while at the same time implementing a focused product strategy. We are investing in the brands and products with the highest potential to drive THQ's long-term profitable growth." For the fiscal year ended March 31, 2009, the company reported a net loss of $431.1 million, or $6.45 per share. In the prior year, the company reported a net loss of $35.3 million, or $0.53 per share. On a non-GAAP basis, the company reported a fiscal 2009 net loss of $101.8 million, or $1.52 per share. In the prior year, the company reported a non-GAAP net loss of $13.6 million, or $0.20 per share. A reconciliation of non-GAAP to GAAP results is provided in the accompanying financial tables.