SCi Entertainment, the parent company of game publisher Eidos, today announced that during its past fiscal year it lost $177 million dollars. That compares to a loss of $24 million during its 2007 fiscal year. Revenues declined to $212 million, down from $230 million in 2007.

Top selling games, contributing to a total of 7.1 million units sold, included Kane & Lynch (1.4 million units), Tomb Raider: Anniversary (1.0 million units) and Conflict Denied Ops (0.5 million units).

Despite the lower numbers, gross profit did increase ($100 million vs $97 million), as did the gross profit margin (from 42.2% to 47.2%)

During the year, the company cancelled projects and axed staff. According to CEO Phil Rogers, SCi has emerged "as a stronger business and over the next year we will see the results of our restructured and revitalised operation."

Upcoming titles from SCi's Eidos unit include Tomb Raider: Underworld, Just Cause 2, and Batman: Arkham Asylum.

Eidos Interactive parent company SCi Entertainment Group announced today that it has rejected a new offer from an undisclosed party, citing the company's "signficant short- to medium-term funding requirements."

The company noted that though the received proposal came at a significant premium to current share prices, it offered "mostly equity consideration but the third party would have assumed responsibility for [SCi's] funding requirements." The offer was also subject to conditions, including significant due diligence.

SCi recently confirmed rumors that an offer had been made, but did not reveal where the offer came from. The struggling UK-based SCi was previously rumored to be in talks with NBC Universal for a $100M investment in the company.

Recent financial hardship recently moved SCi to axe 14 upcoming projects and lay off 25% of its workforce. The group had previously entertained buyout offers from a number of companies including Midway, but cut off talks earlier this year.

Eidos parent company SCi Entertainment Group confirmed reports that it is actively considering an "open offer" for investment in the company.

The struggling UK-based SCi was rumored to be in talks with NBC Universal for a $100M investment in the company, aimed at salving financial troubles which prompted Eidos parent to axe 25% of its workforce and cancel 14 upcoming projects.

SCi failed to name interested parties in its confirmation. Should the reports of NBC Universal's investment hold true, the media conglomerate would become the majority shareholder in SCi.

The group had previously entertained buyout offers from companies such as Midway, but cut talks short earlier this year. In lieu of a corporate bail-out, the company had shifted the release dates four marquee titles—including Crystal Dynamics' Tomb Raider: Underworld—into the fourth quarter in the hopes of boosting holiday sales.

Eidos Interactive owner SCi Entertainment has announced that it will be canceling 14 projects and terminating 25% of its staff under a new effort to restructure the company.

No details were provided on the canceled titles, though the company noted they were "unlikely to generate an acceptable return on investment or are not of appropriate quality."

Going forward, SCi will focus on what it described as its "cornerstone products," including Tomb Raider, Hitman, Championship Manager and Deus Ex. Of those franchises, new Tomb Raider and Deus Ex titles are known to be in development.

Other properties held by the company include Carmageddon and Kane & Lynch: Dead Men.

In addition to cutting 25% of its staff, bringing its workforce down to 800 people, SCi will also relocate much of its production staff from London to Montreal. The ... Read more