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Tomb Raider: Underworld Underperforms

Eidos lowers forecasts following slow Tomb Raider sales has word that Tomb Raider: Underworld generated approximately 1.5 million sales through the end of last year, which would be a runaway success for many titles, but not for a franchise with such lofty expectations. Eidos indicates much of the shortfall from their internal projections is in North America, and while the game's reviews are fairly lukewarm, they blame this on the economy: "In a difficult North American economy we have seen retailers restricting inventory levels and triple-A products being price discounted above our expectation." As a result, Eidos has lowered its financial expectations for the year, and indicate this may force them to tap their line of credit: "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." A follow-up story indicates that Eidos stock values plunged 25% to 12.25 pence on the news.

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