EIDOS DOWNGRADES INTERIM RESULTS
Copyright 2001 www.netimperative.com

[ September 25th 2001 ]

Fed up with its regular 3-month post-results drubbing, UK computer game publisher Eidos has taken the unusual step of abandoning further quarterly announcements, reverting to publishing only interim and full-year results instead.

The company claimed that this reporting timetable is more appropriate given the seasonal nature of the group's revenue flows and will result in a permanent reduction in administrative effort and associated costs. It also reduces the loveless contact the company has with the market since it started posting disappointing sales figure over the past 18 months.

The announcement came as Eidos reported results for the first quarter of 2002, detailing sales of £12.2m, down 27% from last year and an operating loss of £11.1m. Shares in the company dropped, for the last time on quarterly results, 9.5p (-4.7%) to 192p.