PRELIM RESULTS FOR 04
Copyright 2004 Eidos Press Release
[ September 15th 2004 ]
has posted a 2.9 million pound year-end net loss
after sales slumped, but its shares have jumped
as the video game maker says discussions on a
possible sale of the firm are progressing well.
Eidos EID.L , Britain's largest independent video
games company and creator of the "Tomb Raider"
video games franchise, said on Wednesday sales
for the year to June 30 fell 11.6 percent to 133.9
million pounds. The company was hit particularly
hard by weaker sales in its top market, the United
States, it said.
once high-flying Eidos is feeling the pinch of
a brutally competitive market. The $30 billion
video games industry continues to grow at record
levels, but competition for shelf space is getting
exceedingly difficult. A year of missed sales
targets has forced a host of mid-sized developers
to sell out to larger rivals, a prospect that
Eidos is now exploring. Last month, Eidos confirmed
it had received expressions of interest from a
number of firms.
which relate to a possible sale of the company,
are progressing well, although there can be no
certainty at this stage as to whether or not they
will lead to an offer being made for the company,"
Eidos said in a statement. A host of rivals ranging
from France's Ubi Soft to American heavyweights
Electronic Arts and Microsoft have been tipped
as potential buyers. At 9:19 a.m., shares in Eidos
were trading up 3.3 percent at 110 pence. The
company said the decision to push back the release
date of "Shellshock: 'Nam 67" from June to September
meant the expected turnover would be deferred
to the current fiscal year, ending June 30, 2005.