T.HQ Links Profit Drop to Delivery Delays
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T.HQ Inc., a Calabasas maker of video games and toys, reported a sharp drop in its third quarter earnings and sales due to late deliveries of some of its products.
In the quarter that ended Sept. 30, T.HQ earned $220,000, a 70% decline from a $723,000 profit a year earlier. Sales for the quarter fell 19%, to $6.13 million from $7.58 million.
T.HQ’s nine-month profit was $1.45 million, 4% below its $1.5 million profit in 1991. However, sales for the period more than doubled to $23.9 million from $13.7 million a year before.
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