Midway’s net revenues for the quarter were $29.9 million, compared to the company’s previous guidance of $28 million. Revenues for the same quarter in 2007 totaled $11.1 million. The first quarter net loss for the company however was $34 million, compared to a Q1 2007 loss of $19.8 million.
In the same release, Midway interim president and CEO Matt Booty stated that the publisher’s recent Gamer’s Day event showcased the "strength of our future line-up," citing upcoming titles including Mortal Kombat vs. DC Universe, This is Vegas, The Wheelman and TNA Impact. Booty added, "Midway has the products, the talent, and the technology infrastructure to succeed in the industry, and this management team is committed to improving execution."
The publisher also provided outlook for the second quarter of the year, expecting a net revenue of $18 million during the period and a net loss of about $0.38 per basic and undiluted share.