Midway lost $100 million in 2007

Author: Joe Martin
Published: 7th March 2008
Comments (4) Stumble
Midway lost $100 million in 2007

Some Midway games, like Unreal Tournament 3, haven't sold well enough to profit the publisher.

In a financial announcement for the fourth quarter of last year, it was revealed that Midway lost nearly $100 million total last year.

The results for the full fiscal year showed net revenues of $157.2 million, compared to $165.6 million for the year before. That left a loss of a massive $97.4 million, which translates to $1.07 per share. This is a growth on the 2006 losses of $77.8 million.

"We were delighted to bring an eager fan base the PS3 version of Unreal Tournament 3 within the fiscal year, and the consumer response to a number of our casual offerings such as Game Party for the Wii and Touchmaster for the DS was encouraging," commented David F. Zucker, president and CEO in a public statement.

"Now that we have overcome many of the technology hurdles that we encountered over the last year, we anticipate smoother launches as we release our strong 2008 line-up."

Let's hope so, eh?

Do you think that Midway can pull it back, or is it more likely that EA will swoop in and buy the publisher out? Let us know what you think in the forums.


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Midway lost $100 million in 2007

Midway, which lost $78 million in 2006, has announced escalating losses for last year, but remains hopeful for the future.

http://www.bit-tech.net/news/gaming/2008/03/07/midway_lost_100_million_in_2007/1


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