Midway Games today announced its second-quarter fiscal results for the period ended June 30. Net revenues fell from $31.8 million last year at this time to $23.4 million, but the total did exceed Midway's prior guidance of $18 million. The publisher suffered a net loss of $34.8 million for the quarter, more than double last year's $14.3 million. Looking at the entire first half, net loss is an even uglier almost $69 million.

Sales during Q2 were primarily driven by NBA Ballers: Chosen One, released for Xbox 360 worldwide and for PS3 in North America, and Unreal Tournament III for Xbox 360 in Europe. Despite the continued losses, Midway is optimistic for the future with new casual titles such as the sequel to the million-plus unit selling game, Game Party 2, as well as Touchmaster 2, Mechanic Master, and a new casual games portal, MidwayArcade.com.

Furthermore, the publisher has high hopes for hardcore games like Mortal Kombat vs. DC Universe, Blitz: The League II and TNA iMPACT!

"At E3 this year, Midway showed that we have possibly our strongest holiday line-up in recent years, which we plan to kick off in September with TNA iMPACT!, a game that is garnering substantial buzz as a formidable competitor to other wrestling franchises. Following that, we expect the releases of Blitz: The League II and Mortal Kombat vs. DC Universe to expand the audience beyond their core fan bases," commented Matt Booty, interim president and CEO.

For the third quarter ending September 30, Midway said it's expecting net revenues of approximately $52 million, with a net loss of approximately $0.37 per share.