Eidos hit by sales downturn

Christopher Dring
Publisher Eidos has lowered its full year forecasts following slow sales of its big 2008 release, Tomb Raider: Underworld.

The firm now expects full year revenue to be between £160m-£180m, down from the previous guidance of £180m-£200m. As a result, the publisher admits that it may have to talk to its lenders regarding debt repayments.

Although Eidos was 'pleased' with Tomb Raider’s performance in certain key territories, the 1.5 million units the game sold worldwide was below the company’s internal forecasts. Heavy pre-Christmas price cutting and the difficult economy in North America were highlighted as reasons behind the flagging sales.

Despite the concerns, Eidos is encouraged by the positive reaction to its big fiscal 2009 release, Batman: Arkham Asylum.


Tags: financials , batman , eidos , price war , tomb raider

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