Eidos Share Discussion Threads

[togglebrush] 16/1/2009 11:55

Current Financial year is the first after a major cost cutting exercise and under new management. The actual figures for the previous 3 years are shown. The forecast is based mainly upon company statements or previous years data extrapolated.

The forecast sales have increased considerably and although I show a small loss on operations there is the potential for a LARGE TAX credit from previous years.

Profit and Loss in £ millions

Forecst _____________________Actual____Actual______Actual
Yr 8/9____Revenue____________Yr 7/8____Yr 6/7______Yr 5/6

180.00____Cost of sales_______118.90____144.00______179.10
_90.00____Gross Profit_________70.20_____87.00_______75.30

__________Expenses
_90.00____Development costs____48.70_____57.00______103.80
50%_______as % of revenue_____41%_______40%________58%

_40.00____Advertising_________104.30_____32.80_______27.00
_16.60____Excep overhead cst___17.60_____13.70_______19.40
__0.00____Other Excep Adminis___0.00______0.00________0.70
__0.00____Other Administrative__6.20______0.60________1.10
_36.00____Administrative exes__62.90_____41.30_______47.80

==============================================================
_(2.60)___(Loss)fm operations_(142.30)___(31.40)_______7.80

__0.80___Finance income_________0.90_____ 1.20_________0.70
_(0.80)__Finance costs_________(2.00)____(0.50)_______(0.30)
__0.00___Profit asset disposal__0.00______0.60_________0.00
_(0.00)__Share profit assoc_____0.00______0.10________(0.10)
==============================================================
_(2.60)__(Loss) before tax___(143.40)___(30.00)________8.10
==============================================================
???????__Tax(charge)/credit____(4.00)_____1.90__________5,40 ==============================================================
???????__(Loss) for period___(147.40)___(28.10)________13.50

E&OE

[the crypt] 16/1/2009 11:29

hey dealy dangler! whats up? GREAT POST Dealy...... any deals? dealer dealy...lol lol eat yer fish and deal them cards yoer shark! lol lol

[dealy] 16/1/2009 10:43

Great post Toggle. In particular the fact that this years revenues will still be higher than the previous two years. Hardly a disaster.

TW would only have to offer 35p for the 80% of shares it doesn't already own so it would need to shell out £70m to get all the shares. To get control (say 75%) they would have to shell out even less.

I don't think they would be overpaying at that price.

[togglebrush] 16/1/2009 10:35

Time Warner have bought in the rights issue in May that was at 35p. If they are on the bid it must be over 35p. Their average cost is way over that as are those of many other institutional and large share holders.

Turnover is forecast at £160 to £180 million. That will probably beat the best of the last four years. LY was £118m and 2006-7 was £144m. They are selling in europe where the € is strong and prices compared to UK are expensive. There was the Robert T shares overhang which helped depress the share price.

Circumstances and repetitive malicious deramping by self taught (non industry) experts on this board have not helped either.

Half year figures are due in Mid February and look at the header this is not a one product company the other new titles published in last six months has been well above previous years.

Even in these times a company will little or no debt may be worth its Annual Turnover in market capital. In good times it may be worth twice that.

[queeny2] 16/1/2009 10:15

Hi Hyper, just posted some stuff on Pursuit ...........

[altube] 16/1/2009 10:11

I think if you can hold these with the ups and downs, the final outcome will be 25p+ buyout. Given the two parties things will need to move quickly. I expect a possible further announcement today.

Al

[a44] 16/1/2009 10:02

Well good luck to those that stay A44 has left the party again.

[geordie0] 16/1/2009 09:02

14.40 to buy.....large off-loading appearing.

[geordie0] 16/1/2009 08:43

14.12 to sell...14.90 to buy

[kooba] 16/1/2009 08:42

from trading statement in relation to facility.

"We have 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"

[hyper al] 16/1/2009 08:38

DarrenS

I will do.

I'm not going to repeat my past mistakes, panic buying on RNS releases.

[darrens] 16/1/2009 08:34

hyper al, you need to read the last trading statement...

[hyper al] 16/1/2009 08:33

kooba

Thanks for info.

Considering the current climate, that sounds quite good.

[iloveit] 16/1/2009 08:30

8P TO 13P COOLABI epic COO TAKE A LOOK HURRY!

[kooba] 16/1/2009 08:29

hyper al.

Working capital
At 30 June 2008 the Group had £25.9 million of cash and no
borrowings. This excludes £2.9 million of cash anticipated from
the disposal of Proein.
During the year the Group raised £56.3 million (net of costs)
of cash through a Placing and Open Offer.
The Group has new committed banking facilities of up to
£25 million with Lloyds TSB. This provides flexibility to the Group,
including the opportunity to respond quickly to product and
licence acquisition opportunities, and to cover short-term working
capital requirements.

[geordie0] 16/1/2009 08:24

No interest at all at this level....plenty around 13p (1m). Did hope for more but Eidos is not the best placed to try making deals and at current share price will possibly drift down over coming days/weeks until more bid details emerge. Could be 20p upside to share price but market doesn't see it that way. Good luck all.

[darrens] 16/1/2009 08:21

dealy, I think the Board's views are slightly irrelevant. It's up to TW what happens now since they own a fifth of the company.

[dealy] 16/1/2009 08:17

We are only back to where we were one week ago. The board wouldn't entertain a low ball bid and would reject it immediately - not even bother announcing to the market.

They must have said: put in a bid for at least 25p (20% premium to the average price over the last 3 months) and show us that you actually have the funds.

That's my opinion.

[hyper al] 16/1/2009 08:14

kooba

Are banks still supplying those facilities?

[hyper al] 16/1/2009 08:12

CHESTY1

With a spread like that, a short term dabble would be very risky.

A quick look at the finances on ADVFN, looks like they have debt and are loss making, so why would anyone buy them?

[kooba] 16/1/2009 08:12

hyper al no real long term debt but the company relies on facilities to provide working capital due to the lumpy [or no so!] nature of their earnings.

this could go at a surprisingly high premium as in the industry could be viewed as a trophy asset to the big boys.equally eid/seg have turned down many an offer in the past saying that the offers[much much higher than where we stand] undervalued the ip...be interesting to see what they and more importantly the bidder[s] think the value is now.

[chesty1] 16/1/2009 08:07

Any bottom fishers in yesterday will be very very happy to see this am....

Longer termers maybe a bit late for em BUT looks good for a short term dabble...

[hyper al] 16/1/2009 07:56

how much debt does Eidos have?