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SCi Expects $200m Loss In Fiscal Year
[07.22.08]
 Ahead of its full yearly fiscal result report expected September 15th, Eidos parent company SCi has said it expects sales of £134 million and losses of no more than £100 million in a year of "restructuring and transition" that saw numerous product delays.
SCi says that the second half of its financial year ended June 30th saw "good progress" on the cost reduction and re-structuring plan it announced at the end of February, and notes that it has arranged a new debt facility of £25 million and raised £60 million before expenses through new share offerings.
On the progress of the plan, the company reiterates that it has seen annual operating costs reduced by its targeted £14 million, a full 25 percent reduction in headcount, and will soon see the sale of its Spanish distribution service Proein.
SCi also says it has seen "substantial" downsizing of Conflict: Desert Storm and Desert Storm II developer Pivotal Games, made good on its transition of production services to Montreal, and is "on track" with its integration of North American distribution with Warner Bros, with full collaboration on upcoming title launches.
Looking forward, SCi says the second half of 2008 will see the release of Tomb Raider Underworld in time for the holiday season, while the first half of 2009 will see the release of Just Cause 2, Battlestations Pacific and an undetailed Batman game.
By Brandon Boyer
July 22, 2008 07:02:00 AM PST
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