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EARNINGS ROUNDUP / MIDWAY GAMES

Loss widens on higher costs

November 11, 2008|Times Wire Services

Midway Games Inc., the video-game publisher controlled by Sumner Redstone, reported a wider third-quarter loss because of higher costs to develop titles, and predicted it would stay unprofitable in the current period.

The net loss expanded to $75.9 million, or 83 cents a share, from $33.5 million, or 37 cents, a year earlier, the company said.

Third-quarter revenue rose 40% to $51.4 million.

Chicago-based Midway, maker of the Mortal Kombat games, hasn't had a profit in more than three years.

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