EID Eidos

    RNS Number : 3825L
  Eidos plc
  09 January 2009
   


    Eidos Trading update

    Eidos plc is today providing an update to the market on its trading performance over the Christmas period.

    Tomb Raider: Underworld was released on the major gaming platforms on 18 November 2008 in North America and 21 November 2008 in the rest
of the world. We are pleased that in our key European territories the game charted in the Top 10 for the 6 weeks from launch to Christmas*
and performed well against both competitive products and recent iterations of the franchise. However, on a global basis our sell through to
31 December, which we estimate at approximately 1.5 million units, is below our internal forecasts, primarily due to a lower start in North
America. In a difficult North American economy we have seen retailers restricting inventory levels and triple-A products being price
discounted above our expectation.

    Consequently as we enter the second half of our financial year we are cautious about the potential for ongoing price discounting. We
have therefore revised our sales assumptions for Tomb Raider: Underworld and other products to be released and estimate our full year
revenue will now be in the range of �160m-�180m compared to our previous guidance of �180m-�200m. We have passed our peak net debt position
and we retain sufficient headroom within our committed banking facility but given revised profit expectations we may need to enter into
discussions with our lending bank regarding our June 2009 covenants. 

    We believe our strategy of focusing on cornerstone franchises is further validated by the current challenging and competitive
environment. We are concentrating our efforts and resources on those high quality titles that will deliver long-term franchise value while
pro-actively managing our cost base and exploring ways to improve the mechanics of the business. 

    Looking further into our 2009 financial year, we are encouraged by the positive reaction to our forthcoming Batman: Arkham Asylum
videogame. We are working closely with DC Comics and Warner Bros. and through our strategic partnership we are benefitting from
cross-promotional opportunities including the first video trailer for Batman: Arkham Asylum featured on all DVDs of the movie The Dark
Knight this Christmas.   


    [* UK chart data is provided by Chart track, France is provided by internal analysis. In Germany Tomb Raider: Underworld was Top 10 in
the PLAYSTATION 3 charts for 6 weeks, in the All Formats charts for the first three weeks.] 

    For further information:
    Eidos plc                                  +44 20 8636 3000
    Robert Brent, CFO 

    Madano Partnership                  +44 20 7593 4000
Mark Way / Graham Moonie                                                     
    www.madano.com 

    Eidos plc

    Eidos plc is the holding Company of Eidos Interactive, creator of some of the world's leading videogame properties. The Group consists
of several development studios including Crystal Dynamics, Io Interactive, Beautiful Game Studios, Eidos Game Studios and Eidos Montreal as
well as sales and distribution offices in Europe and the US. The Group has a valuable portfolio of intellectual property including: Tomb
Raider, Hitman, Deus Ex, Championship Manager and Just Cause.  
    www.eidos.com


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