Midway Losses

Midway Games is taking a big revenue hit. The company is reporting that revenues for the first quarter of 2001 fell nearly 56 percent to $47.3 million versus last year's first quarter revenues of $106.6 million. That decline in revenue translates to a loss of $9.9 million, compared to net income of $11.3 million in the same period one year ago. Midway hopes to quickly rebound from the disappointing numbers as next generation console game sales increase.