Midway says loss exceeds forecast
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Midway Games Inc., the video game company controlled by Sumner Redstone, said it had a larger-than-expected third-quarter loss as product delays led to a sales shortfall.
The loss excluding certain costs was about 27 cents a share, Chicago-based Midway said in a statement of preliminary results. It previously forecast a 17-cent loss. Sales were about $39 million, less than the $50 million that had been predicted.
The results reflect the later-than-expected release of three games developed for Sony Corp.’s PlayStation 3 console, Midway said. “Stranglehold” will come out in the fourth quarter rather than the third, while “Unreal Tournament 3” and the European release of “BlackSite: Area 51” won’t be in stores until the first quarter of next year.
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