Midway has posted their quarterly financial report detailing second quarter losses of $34.8m USD.

The publishing giants behind titles such as Mortal Kombat, Unreal Tournament III and the upcoming Wheelman reported that share prices had dropped by $0.38 a share, compared with the $0.16 drop in the same period last year.

This isn’t the first time Midway’s financial problems have hit the news. The company posted a $97.4m loss at the end of 2007, entering into a new $90m credit agreement with National Amusements. Despite this, CEO at the time David Zucker stated that the company were preparing for a “significant 2008″ because of the introduction of PS3 exclusive Unreal Tournament 3 and the company’s growing success in massmarket games. Obviously this hasn’t proved to be the case.

With a less than promising release schedule, could Midway’s future be in doubt?

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