View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
March 3, 1997updated 05 Sep 2016 12:27pm

EIDOS THUNDERS IN WITH HUGE PROFIT

By CBR Staff Writer

Proving it doesn’t take long to become a serious player in the fickle world of technology, games and video compression company Eidos Plc has had a very active quarter in which it has says it has become a leading publisher of entertainment software in Europe. Indeed, the Middlesex-based London and Nasdaq-listed company saw profits for its third quarter soar to 7.8m British pounds from losses of 992,000 pounds last time on revenue that reached 32m pounds from just 28,000 pounds last time. The nine months to December 31 saw profits of 3.1m pounds against losses of 992,000 pounds last time on revenue up to 52.4m pounds from 1.2m pounds last time. It was a quarter that saw Eidos gain a Nasdaq listing (CI No 3,048), and raise 18m pounds through the issue of American Depositary receipts. The money is to be used for investments in and acquisitions of complementary businesses, development groups, titles and artistic content, the company says. Eidos also bought 25% of Norwegian Innerloop Technologies A/S (CI No 3,029) and released eight new games in the quarter. Chairman Ian Livingston says the group remains active in the current period, and has announced a long-term publishing and distribution agreement with US desgn studio ION Storm. It also signed an exclusive agreement with film studio MGM to market its James Bond range and other products, and an exclusive four-year publishing and distribution agreement with US-based Looking Glass Technologies Inc. The group is also negotiating to expand its interest in Norway. Earlier this month, Eidos finalized sale of 75% of its Silicon Dreams games development division to its architect and director Geoff Brown (CI No 3,064).

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU