Midway Games reports $38.54 million July net income; sales $3.25 million

By Alice Popovici

New York, Sept. 23 - Midway Games Inc. reported $38.54 million in net income for July on $3.25 million in net revenues, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, the company posted a $2.29 million net loss in June on $3.62 million in revenues.

The company saw a $32.82 million gain in July on the sale of assets to Warner Bros. Entertainment, Inc., and from a liabilities settlement with Warner Bros., according to the report.

Midway had $45.14 million in cash and cash equivalents at July 31, up from $17.43 at the end of June.

Midway Games, based in Chicago, is a developer and publisher of interactive entertainment software for videogame systems and personal computers. The company filed for bankruptcy on Feb. 12, 2009. Its Chapter 11 case number is 09-10465.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.