Pachter expects 2008 to be 'significantly better' for Midway

by Jason Dobson { May 6th 2008 at 10:25AM }

In the wake of yesterday's Q1 earnings announcement from Midway, financial prognosticator Michael Pachter has come forth with his predictions for the company, stating that despite suffering considerable losses during the quarter, the analyst expects the company to perform "significantly better" over the course of year compared to 2007.

According to Pachter, his firm, Wedbush Morgan, continues to advise investors to hold onto any shares of Midway stock that they may have collecting dust in their portfolios, adding belief that Midway "can generate sustainable profits if it can deliver revenues above the $300 million annual level." While possible, Pachter himself lowered his 2008 revenue estimates for the company to $265 million from $300 million based on what he called Midway's "weak first half results," as well as lowered his expectations for 2009. The analyst noted belief that Midway hit rock bottom "quite a while ago," and thus it seems like there is nowhere to go but up. We're just not sure that you can get to the top by clinging to Batman's cape.

[Via press release]

Tags: michaelpachter, midway, pachter, wedbush-morgan, wedbushmorgan

Reader Comments (Page 1 of 1)

Fernando Rocker @ May 6th 2008 10:30AM

Yeah, instead of losing $30 millions, they will only lose $20 millions.

=p

PojoMofo @ May 6th 2008 10:31AM

bu, bu, bu, MK vs DC...

OK your right

Bleu @ May 6th 2008 10:59AM

I hope so because they are a good publisher I really like them.

DangerMouse @ May 6th 2008 11:08AM

Exactly. When there's nowhere to go but up, how can you not do decent?

Oh, this is midway? j/k then lolololollolol

PojoMofo @ May 6th 2008 10:30AM

MK vs DC = Cash Cow???

hmmmm...

Sir Fidlious Wong (Zeon Defense Force) @ May 6th 2008 11:21AM

I hope so. Always liked MK's character designs and some of the mythos (For example, Lin Kuie assasin story arc = good. Sub-Zero and the Lin Kiue ninja guild is really an offshoot of the race known as CryoMancers from Outworld = bad). And I'm one of the few that enjoyed the stance system. It really helped to diversify your character choices.

SoulBlade @ May 6th 2008 10:34AM

Yea because there really isn't much else they can do. Can only (hope to) go up from here really...

Vegeta (aka Ska Oreo) @ May 6th 2008 10:40AM

"We're just not sure that you can get to the top by clinging to Batman's cape."

Obviously Joystiq fails to comprehend the awesomeness that is the goddamn batman.

But in all seriousness, with the rapid popularity of Super-hero movies and video games, I can see this game helping Midway alot.

Also:
Are you dense? Are you retarded or something? Do you know who I am? I'm the goddamn batman!!

Mr.ESC @ May 6th 2008 11:47AM

That last part alone is enough to vote you up.

Why it seems Midway is distancing from the MK formula? Deception finally did things right but then it was downhill again. As much as I like the God damn Batman the game will simply suck without finishing moves. I would kill to have all the finishing moves back.

At least let us have friendships back Midway.Batman Batwist for example that would be a badass Friendship and Cyrax Disco Dancing was awesome in UMK3 .

Vegeta (aka Ska Oreo) @ May 6th 2008 1:21PM

But isn't that kinda of...shallow to say that? I mean I really don't care if 5 seconds of someone getting their head chopped off isn't included in the game. If Midway can improve on the gameplay, then fuck fatalities.

Double J @ May 6th 2008 10:45AM

They published Crusin' for the Wii. They deserve nothing.

nick @ May 6th 2008 10:45AM

Call me a non believer. I thought Midway made some questionable management decisions in 2006 and 2007, and even though there's new management, I have to believe games in the pipeline are related to past management. Any turn around, I think, it going to happen further down the road. I'm not so sure 2008 will be Midway's year.

J.Goodwin @ May 6th 2008 11:09AM

If Ludwig had written this post, that line would have been about "tugging on Superman's cape."

EMaster @ May 6th 2008 11:29AM

See. I rarely question Pachter's judgement because I tend to invest according to his sugestions however this time I will have to say that this is just plain outragious. I mean, MK vs DC is not going to have Halo 3, MGS4 or a GTA IV type impact. Of course it will sell but not to the point that it will make midway meet its numbers.

On the other hand, if he is right, that would be a suprise hit and have a decent impact. However at this point I will refuse to invest into this. I am gonna pick up some activision shares instead.