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Midway Games Reeling

Midway also lowered its financial outlook for the full year 2007 because of a delay in the release of some of its games for the Nintendo Wii and DS titles and lower expectations for sales of Sony's (SNE - Get Report) PlayStation 3 consoles.

Earlier the company had said that it plans to release its game, Stranglehold, for Sony's PlayStation 3 console in the fourth quarter rather than the third quarter, and has pushed back the release of a key franchise title, Unreal Tournament 3 for the PS3 to the first quarter of fiscal 2008.

For the year ending Dec. 31, Midway expects a net loss of 95 cents a share on $160 million in revenue. Excluding charges, Midway expects a loss of 76 cents a share. Analysts are expecting a loss of 85 cents a share on $170 million in revenue.

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