SCi Entertainment Reports Large Loss for the Fiscal Year

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SCi EntertainmentSCi Entertainment, parent of Eidos, has released certain financial information concerning its fiscal year ended June 30, 2008.
SCi Entertainment does not expect to finalize its statutory accounts until after the company's annual general meeting, but SCi Entertainment presented an unaudited consolidated income statement. For the year, the company reported a net loss of £143.0 million (around $256 million) compared to a net loss of £28.1 million in the previous year.

SCi Entertainment pointed out that it responded to large loss, and entered the new financial year with a 25% lower headcount, and raised considerable funds to continue operations. The company stated that "The past financial year has been difficult but the action we have taken was necessary and has produced a business that is now well placed to capitalise on the opportunities that the videogames industry presents."

SCi Entertainment also noted that while it had 1,080 employees as of June 30, 138 of those employees are part of "operations that have been classified as either discontinued or where a provision has been made for their redundancy." This leads FI to wonder if there are remaining staff who are not aware of their "redundancy."

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