Midway games last reported an annual profit in 1999 – that's right, 1999. Nine years later, the publisher is still posting losses. In fact, since 1999, the company has recorded $559 million in losses. Today Midway announced the fiscal results for the three-month period ending March 31, 2008, and no surprise – another net loss. Q1 2008 saw a net loss of $34.0 million or $0.37 per share, up considerably from the loss of $19.8 million, or $0.22 per share in 2007. The company posted net revenues of $29.9 million, better than their guidance of approximately $28 million and better than the revenue of $11.1 million for the same period last year.

Looking to the second fiscal quarter of the year (ending June 30), Midway expects net revenues of approximately $18 million, with a net loss of approximately $0.38 per share. NBA Ballers: Chosen One for PS3 and Xbox 360 is the singular release of the company's second quarter. The publisher feels confident about its outlook, however.

"At our recent Gamers' Day event in Las Vegas, we showed the strength of our future line-up – everything from the driving action of Wheelman starring Vin Diesel, to the exciting combination of two enormous franchises with Mortal Kombat vs. DC Universe, to the open-world lifestyle action experience of This is Vegas," said Matt Booty, interim president and CEO. "TNA iMPACT!, which is garnering significant buzz for its potential to reinvigorate the wrestling genre, Unreal Tournament 3 for the Xbox 360, Blitz: The League II, and new casual games on multiple platforms. Midway has the products, the talent, and the technology infrastructure to succeed in the industry, and this management team is committed to improving execution."