Eidos Loses Less Cash

Tomb Raider maker and take-over target for Square Enix, Eidos, has announced its half-yearly financial report for the six months ended 31 December 2008.

Here's the detail:

- Revenue of £80.3m (2007: £63.4m) increased 26.7% primarily following the launch of Tomb Raider: Underworld.

- Adjusted earnings before interest, taxes, depreciation and amortization of £1.5m (2007: Adjusted EBITDA Loss £73.0m) reflects the completion of the first year of the Group's three-year strategic plan.

- Loss before tax of £9.8m (2007: £81.4m). Adjusted loss before tax of £1.0m (2007: £75.1m loss).

- Basic loss per share of 3.0p (2007: 96.2p). Adjusted loss per share of 0.7p (2007: 88.2p).

- Net debt of £3.2m (2007: £5.7m).

- Tomb Raider: Underworld sold in 2.6m units and at approximately 1.5m units sell through is outselling the two most recent iterations of the game over the same period, but lower than the initial plan set.

- Estimated full year revenue will be in the range of £160 - £180m.

So, despite the fact that Square is 99.9999% certain to buy Eidos, the latter continues its three-year plan.