dellite
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Feb 27, 2006, 6:24 AM
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Midway Games 4th quarter 2005
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Midway Games 4th quarter 2005 were down again. Revenue fell 9.6% from the profitable year-ago quarter; the company's loss totaled $27 million, or $0.42 per share, net of a $10.8 million restructuring charge. That makes four consecutive quarters without a profit; Midway's last profitable quarter, in Q4 2004, was the company's first since Q4 1999. The outlook for 2006 doesn't bode any better. Revenue is expected to grow an uneventful 3%, and Midway expects "a reduction in net loss to approximately $66 million." Midway's stock is down almost 11% in afternoon trading; at $9.71, it's well below its 52-week high of $23.73.
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