The number of units is a manufacturing constraint,
More Quotes from Michael Pachter:
Although Midway continues to generate large losses, we continue to believe that Midway is a potential turnaround story. The company's cost structure suggests that it can achieve profitability at revenue levels of 300 million annually, and we remain confident that Midway will be able to generate revenues at the 300 - 800 million level over the next several years. However, to achieve this level of revenues, the company must continue to expend resources on growing its development capability.Michael Pachter
I think they are very close to the edge with the banks. If the business plays out the way I think it will play out, they won't trip the covenants. I think they are not giving themselves enough cushion to weather a downturn and it makes me hesitate in recommending the stock.
Michael Pachter
One reason they didn't make my number was because they added so much to the reserves.
Michael Pachter
... like the health club model, after you pay your 30 bucks a month for 3 or 4 months and you only go once a week, you realize it's not worth it and you split. That's what will happen with Warcraft ,
Michael Pachter
The question is, How many of those who didn't buy a 360 in December will now wait for the Sony Some will.
Michael Pachter
I think selling studios is not the right move. The first thing the company should do is shut down everything in Europe. Bruno (Bonnell) is out to lunch. ... The guys in the U.S. make games. The guys in Europe just sell them.
Michael Pachter
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