Midway announces $31.8 million Q2 2007 net revenues

Midway has announced that its net revenues for Q2 2007 were USD 31.8 million, up from Q2 2006 revenues of USD 25.9 million and ahead of its prior guidance.

Net loss for the second quarter of 2007 was USD 14.3 million, or USD 0.16 per basic and diluted share, compared with a USD 31 million loss, or USD 0.34 per basic and diluted share, from the prior year.

âIn addition to successful second quarter launches including The Lord of the Rings Online and Mortal Kombat: Armageddon for the Wii, we continued to extend our casual games business," said David F. Zucker, president and chief executive officer.

"Along with Touchmaster brought to the Nintendo DS and Hot Brain for the PSP, we released six of our classic titles on the PlayStation Online Store, and we have become one of the top sellers of classic arcade games on Microsoftâs Xbox Live Arcade.â

For the third quarter ending September 30th, Midway expects net revenues of approximately USD 50 million, with a net loss of approximately USD 0.23 per basic and diluted share.

The company plans to release Stranglehold, Hour of Victory, Myst, and Big Buck Hunter during the third quarter. As previously announced, Unreal Tournament 3 will be exclusive to the PlayStation 3 and PC in 2007. Both Unreal Tournament 3 and BlackSite: Area 51 will be released in the fourth quarter. The release of Vin Diesel's Wheelman game has been shifted to the first half of 2008.

Midway has also announced Nintendo exclusives such as Cruis'n and Game Party for the Wii and Ultimate Mortal Kombat, The Bee Game, and Foster's Home for Imaginary Friends for the Nintendo DS.