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THQ adjusts sales expectations by nearly 50 million

The last we heard about UFC 2010 sales, stores were dropping pricing on the game down to 39 bucks and trading company Lazard Capital Markets lowered THQ’s first quarter estimates down from 203 million to 193 million. That was just based on industry whisperings, but now THQ has come out and given the details on just how bad sales have been:

For the first quarter ending June 30, the company now expects an adjusted loss in the range of 20 cents a share to 30 cents a share, compared with its previous outlook of a breakeven, and sales of $155 million to $165 million, below its prior forecast of $190 million to $200 million.

Analysts, on average, were looking for earnings of 1 cent a share, before items, on revenue of $203.2 million, according to Thomson Reuters I/B/E/S.

The company said it expects to break even in fiscal 2011 on sales of $845 million to $865 million, down from its previous estimate of adjusted earnings in the range of 25 cents to 30 cents a share, on sales of $905 million to $920 million.

So basically the game has underperformed to the tune of around 45 million dollars. I guess the addition of guys like Eddie Sanchez, Steve Cantwell and Frank Trigg wasn’t quite enough to convince people to buy a 60 dollar upgrade to a game they already have.