Midway today revealed the results for the quarter ending September 30, 2007. Sales for the three-month period totaled $36.7 million, up from $27.4 million in the previous year. However, the company also reported losses of $33.5 million, or $0.37 per share, greater than the loss of $22.5 million, or $0.24 per share, in the same period of 2006. Highlights for the quarter included sales of Stranglehold, which has shipped over 1 million units worldwide on PC and Xbox 360.

"We are happy with the response to our first front-line next generation game, Stranglehold, and believe that it has provided a solid foundation to build our standardized toolset for all of our next generation titles," commented David F. Zucker, president and CEO. "Additionally, our commitment to our expanded direct presence in Europe has been validated with strong results for Stranglehold throughout the territory."

For the final quarter of 2007, Midway is now predicting net revenues of approximately $80 million. They also downgraded their full-year revenue estimates to $160 million, accompanied by a net loss of approximately $0.95 per share.

"We remain confident that our technology strategy and product plan position us to grow both revenue and market share as we move into the heart of this console cycle. In the coming months, as we reveal more details on our strong line-up of new IP and major franchises for 2008, we expect to show investors how we plan to realize significant growth in 2008," concluded Zucker.