Eidos lowers expectations after poor sales of “triple A products”

By Mike, Friday, 9 January 2009 14:22 GMT

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According to this GI piece, Eidos has lowered its forecasts for 2009 from £160 million to £180 million, compared to previous estimates of £180 million to £200 million blaming disappointing sales of triple A products as the cause.

“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,” said the company.

“In a difficult North American economy we have seen retailers restricting inventory levels and triple-A products being price discounted above our expectation.”

So, Tomb Raider not doing as well as expected, perhaps?

The company added that it has “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.”

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