Midway Announces Record Results
Increased sales of home and arcade video game titles pushes Midway financials higher.
Midway announced record results for the fourth quarter and fiscal year ending June 30, 1997, on Wednesday. Fiscal fourth-quarter revenue increased by 117 percent to US$98.1 million, compared to $45.3 million in the same period the previous year.
The company's revenues from home video games increased by 154 percent to $33.3 million in the fourth quarter, from $13.1 million the previous year. Coin-op revenues increased 102 percent to $64.8 million in the fourth quarter, from $32.1 million the previous year.
And fiscal year revenues increased by 58 percent to $388.2 million from $245.4 million the previous year.
Contributing to that were home video game sales that rose 43 percent and coin-op sales that rose 84 percent during the fiscal year.
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