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| THQI > SEC Filings for THQI > Form 8-K on 4-Nov-2009 | All Recent SEC Filings |
4-Nov-2009
Results of Operations and Financial Condition, Financial Statements and Exhibits
On November 4, 2009, THQ Inc. ("THQ" or the "Registrant") issued a press release announcing its financial results for the second fiscal quarter of 2010. A copy of the press release is attached hereto as Exhibit 99.1. Neither the information contained in this Item 2.02 of this Form 8-K nor the information in the press release shall be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Use of Non-GAAP Financial Information
In addition to containing results determined in accordance with United States generally accepted accounting principles ("GAAP"), Registrant's press release attached hereto as Exhibit 99.1 discloses non-GAAP financial measures that exclude the following: stock-based compensation expense, the impact of deferred revenue and related costs, business realignment expense, other-than-temporary impairment on investments and any subsequent realized gains on those investments, and mark-to-market adjustments on trading Auction Rate Securities, other material non-recurring charges and benefits, and related income tax effects for each of these items. Registrant excludes these expenses from its non-GAAP financial measures primarily because Registrant does not believe they are reflective of ongoing operating results and are not part of its target operating model. Registrant believes that the use of non-GAAP financial measures provides meaningful supplemental information regarding its performance and liquidity, and helps investors compare actual results to its long-term target operating model goals. Registrant believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning, forecasting and analyzing future periods. The non-GAAP financial measures included in the press release have been reconciled to the comparable GAAP results and should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.
(d) Exhibits
Exhibit
Number Description
99.1 Press Release dated November 4, 2009, relating to Registrant's
financial results for the second fiscal quarter of 2010.
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