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Unreal Tournament III marks the return of the industry’s premiere fi rst-person shooter utilizing the completely new Unreal Engine 3 technology taking the graphics, playability and challenge to a new level.

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24-03-08 Review for Playstation 3 01-08-08 Review for Xbox 360

Latest news

10-20-08 Epic: New UT3 expansion coming, Midway remains1

10-18-08 No more Unreal Tournament from Midway?3

09-19-08 UT3 shows itself for Linux and Mac OS X8

08-05-08 Midway losses grow

04-21-08 Unreal Tournament III gets extras on 3601

03-12-08 Tim Sweeney: PC's aren't suitable for games thanks to Intel4

03-07-08 Midway's financial results are bad

02-25-08 Rein: Epic still believes in PC gaming2

02-04-08 UT III for Playstation 3 gets date

12-29-07 UT3 not doing too great5

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Midway losses grow

Posted on Tuesday, 5 August 2008 by Speed, source: Gamespot

Hopefully Midway's next quarter's results will be "unreal"

Things aren't going too great with Midway.

While the company is still looking for a new president to replace David Zucker who exited the company about four months ago, Midway announced its results for Q2 2008 and they look pretty red:

The Chicago-based publisher suffered a $34.8 million loss, or $0.38 cents per share, on net revenues of $23.4 million. The shortfall was more than twice the $14.3 million, or $0.16 per share, Midway lost on revenues of $31.8 million during the same quarter last year

So it looks like things are going from bad to worse.

During an investor call, interim CFO Ryan O'Desky blamed increasing development costs for the loss.

He told analysts that Midway used $32.9 million in cash on operations during the quarter, while "cash invested in next-generation technologies and product development projects totaled approximately $26.2 million." For the entire quarter, O'Desky said "capitalized product development costs [were] approximately $73.2 million, an increase of $11.6 million from the previous quarter." While hardly welcome, the losses were less than analysts' expectations

Hopefully for Midway next quarter will be better with the release of TNA iMPACT! (Wii, 360, PS3, and PlayStation 2) and Unreal Tournament III on Xbox360

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