Chicago’s premier publisher, Midway Games, today announced that the company saw a decline in net losses from 2006 to 2007. “The 2007 first quarter net loss was $19.8 million…compared with a 2006 first quarter net loss of $22.6 million,” their press release reads. The company posted net revenues of $11.1 million for the 2007 first quarter, compared to 2006 first quarter net revenues of $15.4 million and ahead of prior guidance of approximately $7 million. The PlayStation 2 accounted for 35.8% of net revenue in the quarter, compared to 15.1% for Nintendo Wii, 12.1% for Nintendo DS and 7.2% for Xbox 360.
David Zucker, president and chief executive officer of Midway concluded, “We are very excited by the strong response of gamers and the press alike to the launch of The Lord of the Rings Online, and we are encouraged by the early excitement we are seeing for such front-line titles as Mortal Kombat: Armageddon for the Wii, Stranglehold, BlackSite: Area 51, The Wheelman, Unreal Tournament III and Hour of Victory. As the next generation systems build momentum through this year, we believe we are well positioned to take advantage of the growing base of gamers looking for the highest quality content.”
