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Midway continues to lose money in latest financial report


Game publisher Midway fired its CEO earlier this year and more recently shut down its LA studio, but so far the company has yet to turn a profit in some time. This week Midway announced it's latest financial results for the quarter that ended June 30 and . . . well, it's the same old, same old. The company's revenues were $23.4 million, down from $31.8 million for the same period a year ago. Midway records a loss of $34.8 million, which was over twice the amount it lost at the same time a year ago when it recorded a loss of "just" $14.3 million.

Earlier this year Midway had plans to release five major titles for the competitive fall/holiday 2008 time period but since then two of those projects, Wheelman and This is Vegas, have been pushed back to 2009. Both of those games were scheduled for the PC platform which means Midway won't have any PC titles for release this fall.

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