BRIEFCASE.

Byline: -- Staff and Wire Services

THQ Inc. reports $34 million net

AGOURA HILLS -- THQ Inc. on Friday reported that net income for its 2006 fiscal year was $34.3 million, or 52 cents per diluted share, compared with $62.8 million, or $1.04 per diluted share, in the previous year.

Fiscal 2006 results reflect increased investment in product development in advance of a new generation of video-game consoles, according to the company.

THQ reported a net loss of $7.9 million, or 12 cents per share, for the fiscal 2006 fourth quarter. In the same period a year ago, the company reported net income of $10.1 million, or 16 cents per diluted share.

President and CEO Brian Farrell said the company expects ``our investments in next-generation product development to begin yielding strong results'' starting in fiscal 2007.

Consistent with previous guidance, for the fiscal year ending March 31, 2007, THQ expects net income in the range of 90 cents to $1 per diluted share, excluding a forecasted equity- based compensation expense of 16 cents per share.

For the first quarter of fiscal 2007, the company expects a net loss of about 21 cents per share, excluding a forecasted equity-based compensation expense of 4 cents per share.

IHOP board OKs repurchase hike

GLENDALE -- IHOP Corp. said Friday that its board has approved a 600,000-share increase in the restaurant company's share-repurchase authorization, bringing it to 5.2 million shares.

Since the inception of its share-repurchase program in January 2003, IHOP has repurchased 4.3 million shares out of a total previous authorization of 4.6 million shares as of March 31.

``This increase in our share-repurchase authorization reflects our continuing confidence in the strength of IHOP's core business and the company's ability to generate significant cash flow,'' said President and CEO Julia A. Stewart.

``Share repurchase remains an important way in which IHOP can maximize shareholder value at this time, and this increased authorization will provide us the flexibility to do just that,'' she said.

Disney to delist shares on Arca

BURBANK -- The Walt Disney Co. intends to withdraw listing of its shares of common stock on NYSE Arca, formerly the Pacific Stock Exchange, the company announced Friday.

``Given the recent acquisition of the Pacific Stock Exchange by the NYSE Group, Disney can continue to meet investor needs by maintaining its current NYSE listing under ticker symbol DIS while lowering costs and eliminating duplicative requirements inherent with dual listings,'' according to a company statement.

Trading of Disney shares on the facilities of NYSE Arca will still be available on an unlisted basis. The withdrawal is expected to be effective within the next two weeks.

Gas prices sink buyer confidence

WASHINGTON -- Consumer confidence sank to a seven-month low as sticker shock from rising gasoline prices made Americans anxious about the economy's prospects and the strain on their own budgets.

The RBC CASH Index, based on results from the international polling firm Ipsos, showed confidence at 67.1 in early May. That marked a big deterioration from 89.4 in April.

The new confidence reading was the lowest since October, when the country was still reeling from the devastation and fallout wrought by the Gulf Coast hurricanes, including high energy prices.

The latest confidence snapshot came as high energy prices have touched off fresh debate on Capitol Hill, at the White House and elsewhere about what can be done to help the situation.