Publisher THQ recently reported record financial results for the first quarter of fiscal year 2010 ended June 30th, thanks largely to impressive sales of UFC 2009: Undisputed and Red Faction: Guerrilla.

Net sales were up 77 percent to $243.5 million, with profits at $6.4 million, as opposed to a $27.2 million loss during the same period last year. It was also revealed during the report that UFC 2009: Undisputed has shipped 2.9 million copies, while Red Faction: Guerrilla has shipped over 1 million copies.

THQ CEO Brian Farrell noted that the company’s cost-cutting measures and the decision to split the company’ structure into three distinct businesses (core, casual and online), have and will result in further financial successes over the rest of the financial year, and will enable THQ to achieve profitability in 2010. Farrell commented:

“Our first quarter results demonstrate the benefits of our more focused product strategy and aggressive cost management. These record results reflect the hard work and dedication of our employees around the globe.”

Guidance for the second quarter is cautious, however, as THQ has no new releases for this period, lowering expectations on net sales to $85 to $95 million as compared to $151.6 million during the second quarter of fiscal year 2009. The company’s share price fell by 6 percent on the news.