EIDOS ANNOUNCES NEW DELAY FOR AOD
Copyright 2003 www.tombraiderchronicles.com

[ January 21st 2003 ]

Eidos Interactive Plc has announced a further delay to the release of Tomb Raider: The Angel Of Darkness penned to make its commercial debut on PC and Sony Playstation II next month. Fans of cyber-babe Lara Croft are now expected to wait until April at the earliest before Tomb Raider: The Angel Of Darkness hits the shelves. The announcement comes as Eidos Interactive today declared a net cash balance of about 50 million and an expected move into profitability when it releases its financial results for the six months ended December 31 2002 on March 6th. It was also confident that it would meet consensus forecasts of about 13 million pounds in pre-tax profit and 7p in EPS for the full year to June 30.

Chief executive Mike McGarvey said: "We are very pleased to be returning the Company to profitability based on the success of our ever expanding games portfolio combined with the benefits of an aggressive cost reduction program which we have undertaken. Looking forward, we have a strong line-up of new releases for the second half and are optimistic about the potential for our business to continue to deliver improved performance. Whilst the release of Tomb Raider: The Angel of Darkness has been delayed, we believe that the game will benefit substantially from the marketing of the new Lara Croft movie, Tomb Raider: The Cradle of Life, scheduled to be released this summer."

Mike McGarvey said he was confident that the further delay of Tomb Raider: The Angel of Darkness would not hinder profits but that additional refinements was necessary. "Significant progress has been made in the final stages of development. Management believe that the title will benefit from continued game play enhancement, which will require further time." Eidos's share price rose 15p to 115p after it said pillar titles Timesplitters 2 and Hitman 2 had sold a combined 2.9million copies to date, far surpassing analysts expectations, during a "robust" Christmas trading period.

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