EIDOS ANNOUNCES NARROWING OP LOSSES
Copyright 2002 www.tombraiderchronicles.com

[ September 5th 2002 ]

London-based Tomb Raider publishers Eidos Interactive have reduced their operating losses by 35.1% after announcing a narrowing pre-tax loss before goodwill charges and exceptional items of £30.65 million from £111.72 million in the fifteen months to June 2002. The company also changed its year-end from March to June at an AGM in December.

Eidos stated that "solid growth" in the entertainment and software market would be achieved and maintained with the support of a collection of forthcoming next generation videogames titles, including the sixth Lara Croft adventure The Angel Of Darkness that makes its commercial debut on PS2 and PC CD in December 2002. Other key franchise titles include Hitman 2 (PlayStation 2, Xbox and PC CD), TimeSplitters 2 (PlayStation 2, GameCube and Xbox) and Championship Manager 4 (Xbox and PC CD).

Michael McGarvey, chief executive of Eidos said: "Our results underline the significant improvements we have introduced to our business. We believe that our strategy of focusing on franchise properties with proven track records of success will provide the best possible opportunity for profiting from this growth. We believe that this robust line-up, combined with a sustained focus on our business processes and operating fundamentals will enable Eidos to take full advantage of the opportunities that this growing market presents."