As reported on earlier, sales for THQ’s “WWE Smackdown vs. Raw 2009” video game were down 25% from last year. The Wrestling Observer Newsletter is reporting that THQ stated in its annual report that the company lost $431.1 million for the year as compared to losing $35.3 million in the 2007-2008 fiscal year. The company has cut close to $220 million in costs and grossed $170.3 million in the recent quarter losing $96.9 million. Most of the losses were due to severance packages, contract termination costs and having to pay off contracts of canceled titles. 15 major releases over the next 12 months were released including “WWE Smackdown vs. Raw 2010” and “UFC Undisputed 2009”, which many expect to be a big hit.