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THQ reports £35m loss, kills uDraw

Saints Row 3 officially firm's biggest owned-IP launch

Troubled Saints Row publisher THQ has announced a net loss of $55.9 million (£35m) for its third fiscal quarter ended December 31, 2011.

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The firm, which yesterday announced plans to cut 240 jobs, reported better than expected performances from core games, offset by poor uDraw results.

Overall the tablet's failed expansion to Xbox 360 and PS3 has cost THQ $80 million in lost revenue and expectedly the company's said it has no further plans for the device.

On the core side of things, the publisher announced that Saints Row: The Third shipped 3.6 million units during the quarter, making it "the largest owned-IP launch in THQ's history", while WWE '12 shipped over two million copies during the three month period.

THQ CEO Brian Farrell said the titles "demonstrate the strengths of THQ's core gaming capabilities".

However, he added, "sales of the uDraw GameTablet and related software, and other titles in the kids, family and casual category were far weaker than anticipated, substantially reducing our financial results for the quarter."

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