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Midway on the way to a Fatality

Quote:

Originally Posted by IGN

Midway Reports Q3 Losses
Don't worry, it's not a fatality just yet.
by Micah Seff

November 3, 2006 - Yet again, Midway Games has posted quarterly losses. The publisher's financial reports were released today, and much to stock holders' dismay, Midway announced that it had taken a loss of $22.2 million for the quarter ending September 2006. This was, however, an improvement over the same period last year during which Midway lost $29.1 million.

This year, revenues faltered with the company bringing in $27.4 million in its third quarter, a seven percent slip from last year's $29.5 million. Midway has blamed a decline in profit margins for the increase in its full-year net loss expectations to $73 million, up from the previously announced expected loss of $70 million.

Going into the final quarter of the year, Midway has high expectations because of recently released titles such as Mortal Kombat: Armageddon and Unreal Anthology. The company expects net revenues for the quarter ending December 2006 to reach $86 million and to attain a net income of $2 million for the same period.

Despite all of this doom-and-gloom, Midway remained optimistic. President and CEO David Zucker stated that Midway was "pleased to exceed [its] financial expectations for the third quarter."

Who here thinks they'll be gone within two years? Here's hoping they get all of their old games on the VC and XBLA before they get bought by EA.

It's not like they're actually losing that much money. Granted, Midway isn't as big as it used to be, but it's not all that bad. They're essentially one good game away from making loads of cash. They're stuff is usually good, just not great.

I got to hand it to them for bringing back Mortal Kombat after such a long time, especially since it was the "it" violent video game of its time. I haven't played any of the new ones, but I heard mixed things. Personally, I'm more of a "Street Fighter" man, myself, but if they can make this popular again, maybe people will forget about GTA... especially since it was the first extremely violent video game of its kind.

BTW... I know this is a stupid question, but was there any truth to the rumor of the "Naked code" back in MK2? I never got around to finding that out.