The company has said that low sales of its Tomb Raider 4 and Fighting Force 2 games for the PlayStation contributed to the losses. The delayed arrival of the PS2 has only deepened its problems, despite only one of its planned 19 PS2 products being ready for this Christmas. Eidos was also hit by its $55 million investment in the consumer entertainment internet company Express.com which has performed less well than expected.
However, the company says it can survive on its current £50 million overdraft facility and is confident that it will be profitable by 2002.