Midway Reports $76 Million Third-Quarter Loss

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MidwayMidway reported its financial results for its third fiscal quarter ended September 30, 2008.
The company reported a net loss for the quarter of $75.945 million, compared to a net loss in the same quarter the previous year of $33.527 million. Midway attributes this large loss to its efforts to address "...several critical issues that were affecting the ability of our company to achieve success..." This loss includes the cost of studio closures, game cancellations and financing efforts.

During the quarter, 70.4% of revenues came from North America. By platform, Wii games contributed 28.0% of revenues, Xbox 360 games contributed 24.1% of revenues and PlayStation 3 titles contributed 22.9% of revenues.

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This page contains a single entry by Editor published on November 13, 2008 5:01 PM.

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