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EIDOS PLC ANNOUNCES FINANCIAL RESULTS
Copyright 2002 www.tombraiderchronicles.com

[ May 15th 2002 ]

Eidos plc, one of the world's leading publishers and developers of entertainment software, announced today results for the six months and year ended March 31, 2002. Net revenue was 88.7 million pounds for the six months and 120.3 million pounds for the full year, a decrease of 18% on the previous year.

Eidos chief executive Mike McGarvey said he was confident the November release of Lara Croft Tomb Raider: The Angel of Darkness and forthcoming titles for Microsoft Corps XBOX entertainment system including the best-selling Championship Manager series would increase the companys sales growth by 35% - 40%. "Our results for the twelve months to March 31, 2002 show significant improvements in our operating and financial performance and mark another key stage in the recovery of the Group."

"For the reasons outlined in our Interim Results and our March 19, 2002 Trading Update, turnover for the period is down on the prior year. Gross margins have however improved significantly over the same period and we have successfully reduced our fixed cost base. Following the successful Rights Issue in July 2001, our cash position is strong. The next generation of hardware systems is becoming more firmly and more widely established and the prospects for growth in the entertainment software market remain correspondingly strong."

"Our portfolio of forthcoming releases contains next generation versions of many of our key franchises such as Lara Croft Tomb Raider: The Angel of Darkness, TimeSplitters 2, Hitman 2 and Championship Manager 4 combined with selected new titles across all major formats."

Business highlights from the past twelve months include twenty titles released in the period, with four selling in excess of 350,000 units, gross margin pre exceptional charges increased 9.3% to 59.5% from 50.2%, a 69.2% reduction in total operating losses pre goodwill and exceptional charges, an exclusive deal with Sony Corp for "Lara Croft Tomb Raider: The Angel of Darkness" and the appointment of John van Kuffeler as Non-Executive Chairman replacing Ian Livingstone who becomes Creative Director.

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