Following on from EA’s financial reports yesterday, THQ has released their own. The publisher has revealed that sales of Red Faction: Armageddon haven’t matched their expectations and, while no solid sales figures were given, THQ have said the title’s retail performance was partly to blame for their poor Q1 figures.

The company recorded a net loss of $38.4 million for the three months leading up to June 30, down $8 million from last year.

“We are disappointed in our first quarter financial performance. Sales of Red Faction: Armageddon and our licensed kids titles were below our expectations, and the late release of UFC Personal Trainer also adversely impacted the quarter,” said CEO Brian Farrell.

“Despite a light first half, we are looking forward to a strong and profitable second half, including what we expect to be the biggest third quarter, both in revenue and earnings per share, in our company’s history, with proven franchises Saints Row, WWE and the uDraw GameTablet, all launching in November.”

In light of these disappointing sales of the Martian set game, THQ has decided to make many fans angry (me included) and abandon the franchise. Farrell said the company does not “intend to carry forward with that franchise in any meaningful way.”

He added that the development team at Volition has been moved onto Guillermo del Toro’s inSane project.