THQ today released its first quarter fiscal results for the period ended June 30. Net sales grew from $104.5 million to $137.6 million while net loss tripled from $9.3 million a year ago to $27.2 million.

THQ said first-quarter sales were driven by games based on Disney/Pixar's Wall-E, which shipped more than one million units, the new original Wii title Big Beach Sports and continued strong sales of WWE SmackDown vs. Raw 2008 and MX vs. ATV Untamed.

"We continued to make progress against our key initiatives during the first quarter," said Brian Farrell, THQ president and CEO. "We are beginning to roll out a strong slate of games for the year, including a balance of both owned intellectual properties and major licenses. We are making important improvements in our creative development organization, which we believe will increase our product quality and competitiveness. During the quarter, we also took steps to re-align our cost structure and we remain on track to generate improved operating leverage. We are focused on generating growth at both the top and bottom line, and delivering improved value for our shareholders."

Looking ahead, THQ is confident that its product portfolio will allow the publisher to tap into a growing video game audience.

"Our fiscal 2009 product line-up and long-term product pipeline are well-positioned to take advantage of the expanding demographic of gamers on the growing installed base of game platforms," Farrell continued. "We have a robust product slate of key titles scheduled to launch in each of the next several quarters, starting with de Blob in September; Saints Row 2 and WWE SmackDown vs. Raw 2009 in the holiday quarter; Red Faction Guerrilla, Darksiders: Wrath of War and WWE Legends of Wrestlemania in our fiscal fourth quarter; and UFC 2009 Undisputed in the first quarter of fiscal 2010."

For the second quarter, THQ provided guidance of net sales in the range of $160 million to $170 million and a net loss per share in the range of $0.35 to $0.39. For the entire fiscal year ending March 31, 2009, THQ is now expecting net sales in the range of $1.15 billion to $1.175 billion and earnings per share in the range of $0.80 to $0.90.