Midway posts Q4 2007 results, looks toward promising 2008
With Epic Games’ Unreal Tournament 3 and John Woo’s Stranglehold under its banner, Midway displayed a strong showing last year. The financial report for fiscal year 2007 did show significant drop in revenues from 2006, but the video game company expects 2008 to be big now that many technology hurdles have been taken care of. For more details, head to the full article.
Video game publisher Midway Games has released its financial report for the fourth fiscal quarter of 2007, showing a drop in net revenues followed by impressive highlights headlined by the release of developer Epic Games’ Unreal Tournament 3 (Sony PlayStation 3, PC).
Midway’s Q4 2007 net revenues dropped to US$ 77.6 from last year’s US$ 96.9 during the same period, but the company is confident that 2008 will be much better. David F Zuker, president and CEO of Midway, stated:
Now that we have overcome many of the technology hurdles that we encountered over the last year, we anticipate smoother launches as we release our strong 2008 line-up.
2007’s total revenues of US$ 157.2 million for Midway fell short of the previous year’s US$ 165.7 million, though the following year is expected to be big with This is Vegas across the Xbox 360, PS3, and PC platforms. Casual titles inspired by the success of Game Party for the Wii and Touchmaster for the DS will broaden Midway’s audience.