Midway loses almost $100 million in 2007

Management remains upbeat with smoother launches planned for its 2008 line-up.

Midway Games has announced its financial results for the full year which ended December 31, 2007. The publisher recorded a loss of $97.4 million, adding to a loss of $77.8 million the previous year. It also expects further losses during the first quarter of 2008.

Despite this, David F. Zucker, president and chief executive officer, remained upbeat and outlined a number of successful titles for the publisher.

"We were delighted to bring an eager fan base the PS3 version of Unreal Tournament 3 within the fiscal year, and the consumer response to a number of our casual offerings such as Game Party for the Wii and Touchmaster for the DS was encouraging," he said.

Midway has previously been very open about the problems it faced with new technology, but Zucker is confident these issues have been overcome and anticipates "smoother launches" for the publisher's 2008 line-up.

Zucker concluded by looking ahead to the big release planned for the coming year: "We expect 2008 to be a significant year for Midway, with more front-line releases than 2007, including some ambitious new intellectual properties with broad market appeal, reinvigorated franchises with well-established fan bases, and some new opportunities in the casual games space with console titles and a new casual games portal. In the near future we expect to reveal more details on our line-up, such as the recent announcement of This Is Vegas."