Midway’s Q3 2007 revenue, losses up

Midway has posted their Q3 2007 financial results, showing an increase in both revenue and losses when compared to same period a year ago:

Net revenues for the 2007 third quarter were $36.7 million, compared to the 2006 third quarter net revenues of $27.4 million. The 2007 third quarter net loss was $33.5 million, or a loss of $0.37 per basic and diluted share, compared with a 2006 third quarter net loss of $22.2 million, or a loss of $0.24 per basic and diluted share.

On a non-GAAP basis, excluding the impact of stock-option expenses and certain non-cash items, the 2007 third quarter loss was $28.0 million or a loss of $0.31 per basic and diluted share. For the 2006 third quarter, on a non-GAAP basis, the Company had a loss of $20.3 million, or a loss of $0.22 per basic and diluted share. A reconciliation of non-GAAP results to GAAP results is provided at the end of this press release.

While John Woo’s Stranglehold didn’t receive the welcome they were probably hoping for, Unreal Tournament III will surely mix things up quite a bit.

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