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Midway Reports First Quarter Losses

This article is over 16 years old and may contain outdated information
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Publisher Midwayā€™s first quarter financial results revealed $34 million in losses.

The companyā€™s net revenues came in at $29.9, an improvement over the same period last year, which stood at $11.1 million.

Still, the net loss was $34 million or 37 cents per basic share, compared to $19.8 million and 22 cents a share in 2007.

Company CEO Matt Booty, who recently replaced David Zucker, put a positive spin on the news.

ā€œMidway has the products, the talent, and the technology infrastructure to succeed in the industry, and this management team is committed to improving execution,ā€ he said.

Midway forecasts $18 million net revenues and a net loss of 38 cents per basic and diluted share in the second quarter.

Source: Gamesindustry.biz

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