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EIDOS RELEASES ANNUAL REPORT FOR '04
Copyright 2004 www.tombraiderchronicles.com

[ October 14th 2004 ]

Eidos plc has released the Company's Annual Report and Accounts for 2004, briefly touching on the progress made to date on the next Tomb Raider adventure game. The London-based publisher registered an operating loss in comparison to last years gains but remains optimistic of a turnaround blaming the decline of sales on waning market conditions. "Group turnover for the year ended 30 June 2004 amounted to 199.9 million (2003 159 million) reflecting a noticeable downturn in retail market conditions in the second half, particularly in the U.S. and our decision to defer the release of ShellShock Nam '67 until market conditions improved."

"The Group recorded an operating loss before goodwill and taxes and exceptional items of 2.0 million (2003 13.9 million profit.) No dividend has been paid or declared for the year. We are working diligently to complete the strategic review programme with the key objective of delivering value for share-holders whilst also seeking to secure the best future for the Company and its employees."

Commenting on Tomb Raider 7, Eidos said: "Our Crystal Dynamics Studio in the US is making exciting progress in the development of the next Tomb Raider game which will be unveiled this Autumn and is scheduled for release in the fourth quarter of the current financial year. Following the internal transfer of the Tomb Raider franchise from Core Design to Crystal Dynamics, Core Design has been refocused and restructured. A number of the new concept idea and pre-production works, for both platform and PlayStation Portable (PSP) application, are being developed in this studio."

Looking ahead, Eidos CEO Mike McGarvey said: "Notwithstanding the ongoing strategic review, management remains focused on driving the business forward and is committed to providing the design, innovation and technical advancement that can further improve the game-play experience. To that end, we have a significant release schedule planned for the current financial year which includes a strong mix of sequel and new franchise titles."

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