Midway close to being profitable
Wedbush Morgan analyst Michael Pachter tells GameDaily that Midway may be only one franchise away from not playing the Atari game of financial problems anymore. Recently Midway reduced their losses to around $14 million, which sounds like a lot to us normal folk, but for a corporation, that's like owing someone $20. Apparently Lord of the Rings Online helped bolster the bottom line, but because Midway is merely the distributer, Turbine is still reaping most of the benefits.
Pachter believes Stranglehold will help Midway's cash flow and he expects it to sell a million copies in its first quarter of release. He believes profitability is right around the corner for the company if any of its titles do better than expected. Let's see, the contenders are Stranglehold, Blacksite: Area 51, and Unreal Tournament III. Given the way the industry is going, there's no reason any major company shouldn't currently be profitable -- unless they've got a great excuse.
