Empire Interactive – Flat(Out) Broke?
Britsoft veteran posts disastrous financials.
Dominant pre-E3 rumours hinted that established British software company SCi was looking to snap up fellow Britsoft minnow Empire Interactive, as SPOnG reported back in April.
However, it seems SCi pulled out at the last minute (oo-er missus!) leaving the beleagured Empire still in search of a suitor, like a jilted bride left at the altar at the last minute.
What certainly doesn’t make things look any better for the firm is the fact that it’s just posted a new financial report, revealing a pre-tax loss of £2.5 million (€1.74 million) in the 15 months period ending March 31, 2006.
A significant drop in income from £29.4 million (€42.3 million) during the previous 12 months to £26.5 million (€38.1 million) was attributed "...to the postponement of the European release of Flat Out 2 until June 2006, as well as the company's delay in entering distribution agreements pending clarification as to the future of the group."
The report also goes on to outline that the recent takeover talks have directly impacted on "...a number of distribution agreements for some of the group's titles were delayed pending further clarity as to the future independence of the company."
It concludes: "The board remains confident that the Company's financial prospects for the financial year 2007 will be positively impacted, once FlatOut 2 and other titles have been released into the market."
You can read our review of Flat Out 2 right here.
However, it seems SCi pulled out at the last minute (oo-er missus!) leaving the beleagured Empire still in search of a suitor, like a jilted bride left at the altar at the last minute.
What certainly doesn’t make things look any better for the firm is the fact that it’s just posted a new financial report, revealing a pre-tax loss of £2.5 million (€1.74 million) in the 15 months period ending March 31, 2006.
A significant drop in income from £29.4 million (€42.3 million) during the previous 12 months to £26.5 million (€38.1 million) was attributed "...to the postponement of the European release of Flat Out 2 until June 2006, as well as the company's delay in entering distribution agreements pending clarification as to the future of the group."
The report also goes on to outline that the recent takeover talks have directly impacted on "...a number of distribution agreements for some of the group's titles were delayed pending further clarity as to the future independence of the company."
It concludes: "The board remains confident that the Company's financial prospects for the financial year 2007 will be positively impacted, once FlatOut 2 and other titles have been released into the market."
You can read our review of Flat Out 2 right here.
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Comments
Joji 4 Jul 2006 16:43
1/1
What a shame, that gives me an insentive to pick up the Flat Out games. I thought things were okay after they pushed out Starship Troopers and Flat Out.
Perhaps MS or Nintendo might snap them up. Their game concepts would have improve though. Empire have been a boutique like developer for too long, so i'll say a little pray they don't go under like others.
Can anyone sing, 'Another One Bites The Dust' right about now.
Perhaps MS or Nintendo might snap them up. Their game concepts would have improve though. Empire have been a boutique like developer for too long, so i'll say a little pray they don't go under like others.
Can anyone sing, 'Another One Bites The Dust' right about now.