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SCi Q1 Sales Up 14%, Buy-Out Talks Continue
by Leigh Alexander
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November 21, 2007
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Publisher SCi Entertainment Group has announced its first interim management statement analyzing its fiscal first quarter, showing sales increased 14 percent over the same quarter in the prior year -- adding that while there is no news regarding a possible buy-out, the company "continues to be in discussions."
Due to the absence of major product launches in its first fiscal quarter, SCi stated they had spent the period focusing on back catalog sales, specifically games developed, marketed and sold under the Eidos brand as well as third-party titles. The company highlighted successful sales of Pony Friends on Nintendo’s DS system, saying the IP has further sequel and franchise opportunities.
SCi also pointed out that year-over-year increases in units sold were offset by the low pricing brought on by next-generation console transition and product mix. The contribution from its publishing products was also lower than the first quarter of fiscal 2007, which included the Just Cause franchise and a "better overall product mix."
Finally, SCi had previously said in September that it had entered into preliminary discussions regarding a potential acquisition of the company, although the interested party was not named.
In the latest statement, SCi said those talks have continued. "On 27 September we made a statement regarding possible offers for the Company," said the release. "We have nothing to add to this earlier statement at this point but confirm that we continue to be in discussions."
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