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THQ Sees FY 10 Profit; Betting on the Old Ultraviolence

in News on April 2, 2009 at 11:21 am PT

THQ shares are posting a fat gain today after the videogame company announced that it has completed a previously announced cost-reduction plan designed to chop its annual spending by $220 million. THQ CEO Brian Farrell said in a statement that the company’s goal is to return to profitability and generate positive cash flow in the March 2010 fiscal year, and to position the company for long-term sustainable growth.