SCi sees revenues at £134m, EBITDA loss £100m

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Date: Tuesday 22 Jul 2008

LONDON (ShareCast) - Computer games developer SCi expects revenues for the year to be approximately £134m and losses at the EBITDA level are expected to be no more than £100m.

“The full year loss reflects both the significant write-offs made to the carrying value of the Group's development projects at the half year and the decision, as previously announced, to delay a number of major product launches out of the second half into the next financial year,” it said.

The group said it ended the financial year with net cash of £2m, which was ahead of internal projections.

The game Age of Conan was released in May and met its internal sales target of 1m units, faster than expected.

Game releases scheduled for the first half of 2008/09 include Tomb Raider Underworld, which is scheduled to be released on 18th November in the U.S. and 21st November in Europe/ROW.

“We have a clear strategy in place and have taken decisive steps to become a studio-led business with a focus on cornerstone franchises and a flexible approach to distribution. There has been substantial change and the business is in good shape to take advantage of the strong overall market for video gaming worldwide,” said the group.

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