Midway announced results of operations for the quarter ending September 30, 2001, revealing the body blow the company took by exiting the coin-op business.
Quarterly revenues slid 40% from last year, to $28.3 million, but the company trimmed its losses to $7.7 million (20 cents per share), compared with a loss of $10 million (26 cents per share) a year ago. During the quarter, Midway released four titles, three for the PlayStation 2 and one for the Game Boy Advance. The company said that two of the PS2 titles released, Spy Hunter and NHL Hitz 20-02, generated "very strong early consumer demand, ranking among the top PlayStation 2 titles sold in North America since their launch".
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