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Midway Posts Improved Revenue, Lower Net Loss

Midway Games announced quarterly results showing better revenue performance and significantly lowered losses.
Revenues for the quarter ended March 31 reached $31 million, up from $23.7 million in the same period last year. Losses, excluding a one-time charge of $1.3 million related to Midway’s consolidation, were trimmed to just $5.1 million versus $22.2 million in the same quarter one year ago. Midway’s gains came on strong sales of new console games; four of the six titles released by Midway during the quarter ended March 31 broke into the top ten sales charts.

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