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SCi Entertainment - unloved by retail investors - why? (SEG)
bunkum - 16 Mar 2004 23:11
My 1st post on Money am, so be gentle ;)
My main holding is SCi Entertainment, a former darling pre-bubble. It like many in early 2000 had a shocker of a profit warning, but has since grown up, knuckled under and generating cash.
Its recent history speaks for itself
30 Sep 2001 (GBP)
turnover 2.05m
pre tax profit -10.48m
30 Sep 2002 (GBP)
turnover 17.71m
pre tax profit 2.21m
30 Sep 2003 (GBP)
turnover 28.48m
pre tax profit 3.52m
Everything inline for 2004, although by my research 2004 H1 well ahead.
Single digit pe and loads of growth.
However, hardly any interest by the retail investor. In fact, this looks to be the 1st thread on Money am re SEG.
So why the cold shoulder for SEG, what am I missing?
My main holding is SCi Entertainment, a former darling pre-bubble. It like many in early 2000 had a shocker of a profit warning, but has since grown up, knuckled under and generating cash.
Its recent history speaks for itself
30 Sep 2001 (GBP)
turnover 2.05m
pre tax profit -10.48m
30 Sep 2002 (GBP)
turnover 17.71m
pre tax profit 2.21m
30 Sep 2003 (GBP)
turnover 28.48m
pre tax profit 3.52m
Everything inline for 2004, although by my research 2004 H1 well ahead.
Single digit pe and loads of growth.
However, hardly any interest by the retail investor. In fact, this looks to be the 1st thread on Money am re SEG.
So why the cold shoulder for SEG, what am I missing?
hlyeo98 - 22 Nov 2007 13:11 - 37 of 56
I totally agree, Greyhound. If there is a takeover, the price will be reduced anyway. If there is no takeover, the sp will crash. Win-win situation.
hlyeo98 - 27 Nov 2007 11:36 - 38 of 56
Made a small profit now...218p now...likely to go down further
hlyeo98 - 27 Nov 2007 17:24 - 39 of 56
Predicted rightly...down it goes...closed at 199p.
Toya
- 06 Dec 2007 07:26
- 40 of 56
The rumour-mill continues: article in the FT today (not had time to look for details), as mentioned in MoneyAM's Press Roundup:
'Electronic Arts bid speculation lifts Sci Entertainment '
'Electronic Arts bid speculation lifts Sci Entertainment '
hlyeo98 - 07 Jan 2008 20:06 - 41 of 56
SEG going to slide down from now... 173p
blackdown - 11 Jan 2008 08:05 - 42 of 56
Spot on
hlyeo98 - 11 Jan 2008 12:17 - 43 of 56
62p now...got it right.
SCI Entertainment terminates offer talks; forecasts opg loss for FY 2008 - AFX
LONDON (Thomson Financial) - SCI Entertainment Group PLC said it has terminated offer talks it has been holding since last September as it has concluded that it is unlikely a sale of the company at its full value will be achieved.
The company also said it now expects to report an operating loss for full year 2008 after it decided to move the release date of four titles into the fourth quarter. The most significant of these titles is the next Tomb Raider game, Tomb Raider: Underworld.
The group will now launch this game on six platforms rather than the previously planned three and it said that, although the delay will mean the company incurring a loss at full year, simultaneous multi-platform launches in the key buying period at Christmas time will bring the best value from these franchises over the long term.
SCI also commented on Christmas trading for 2007 which it said it was pleased with, particularly the performance of Kane and Lynch, which was launched on Nov 13 in the US and Nov 23 in Europe.
SCI also said Pony Friends, first launched in May 2007, has also continued to perform well with life-to-date sell through now exceeding 600,000 units on NDS alone.
As part of the decision to make these changes to the platform and release schedule, the company has reviewed the impact this may have on its working capital needs and said it has identified sources of additional working capital which may be required.
The group is also exploring and progressing certain commercial and strategic opportunities which emerged from the aborted offer talks.
tf.TFN-Europe_newsdesk@thomson.com
SCI Entertainment terminates offer talks; forecasts opg loss for FY 2008 - AFX
LONDON (Thomson Financial) - SCI Entertainment Group PLC said it has terminated offer talks it has been holding since last September as it has concluded that it is unlikely a sale of the company at its full value will be achieved.
The company also said it now expects to report an operating loss for full year 2008 after it decided to move the release date of four titles into the fourth quarter. The most significant of these titles is the next Tomb Raider game, Tomb Raider: Underworld.
The group will now launch this game on six platforms rather than the previously planned three and it said that, although the delay will mean the company incurring a loss at full year, simultaneous multi-platform launches in the key buying period at Christmas time will bring the best value from these franchises over the long term.
SCI also commented on Christmas trading for 2007 which it said it was pleased with, particularly the performance of Kane and Lynch, which was launched on Nov 13 in the US and Nov 23 in Europe.
SCI also said Pony Friends, first launched in May 2007, has also continued to perform well with life-to-date sell through now exceeding 600,000 units on NDS alone.
As part of the decision to make these changes to the platform and release schedule, the company has reviewed the impact this may have on its working capital needs and said it has identified sources of additional working capital which may be required.
The group is also exploring and progressing certain commercial and strategic opportunities which emerged from the aborted offer talks.
tf.TFN-Europe_newsdesk@thomson.com
DD5
- 11 Jan 2008 13:58
- 44 of 56
is this likely to recover at all in the coming weeks???
halifax - 11 Jan 2008 15:27 - 45 of 56
After forecasting a loss for 2008 what do you think?
oilivergas - 23 Jan 2008 18:34 - 46 of 56
Long term looks good, being shorted at the moment by EK. Undervalue.
hlyeo98 - 29 Feb 2008 20:12 - 47 of 56
From Times Online - February 29, 2008
Lara Croft developer SCI to cut 25% of staff as losses worsen - Robin Pagnamenta
SCI Entertainment, the developer behind gaming adventuress Lara Croft, will slash 25 per cent of its workforce as part of a revised strategy that could cost up to 75 million to implement after interim losses leapt by 78 per cent.
The computer games group now expects to make a loss for the full year after losses for the six months to December 31, 2007 slumped from 17.9 million to 81.4 million on sales down from 74.5 million to 73 million.
The loss widened mainly due to a 79.6 million charge which includes the cost of aborted projects, research and development on new projects and costs being booked as development instead of research.
SCI, now operating under new management since an extensive board clear out in January, said this morning it will scrap 14 of its ongoing projects to concentrate on its "cornerstone" games including Tomb Raider, Hitman and Championship Manager.
The company is currently in negotiations with its main lending bank, Lloyds TSB, to extend its 20 million overdraft facility, with the remainder of the new strategy costs to be financed through issuing new shares as well as seeking investment from third parties.
Last year, SCI was in talks about an outright sale of the business. Although these discussions did not result in a takeover of SCI, it is understood that some parties who previously engaged in discussions may be interested in investing in the group.
Phil Rogers, previously chief financial officer at SCI who was appointed chief executive in January, denied the group was in danger of breaching its banking covenants. He said: "We have a great relationship with our banks. That is not a risk I see right now."
In a statement this morning, Mr Rogers said: "As illustrated by today's interim results...our quality has slipped below acceptable standards and, through disappointing game development and working within an ineffective operating structure, we are failing to realise the commercial return our creative ability and our shareholders demand.
"Our infrastructure is too big and expensive for the scale of the business."
Mr Rogers said SCI's business will be refocused on game development in its studios, with production, branding and PR all working together "in one time zone", while its product testing facility will now be based in Canada. SCI said that while it is no longer in takeover talks, it would not rule out a deal in the future.
Shares in SCI fell by 14.2 per cent to 45.25p - a 93 per cent fall from a five-high of 615p in January 2006.
In January, SCI replaced its top management team after takeover talks last year collapsed.
Jane Cavanagh, chief executive, Bill Ennis, managing director of publishing and Rob Murray, in charge of studios, all left the business with immediate effect after chairman, Tim Ryan, spoke with SCI's top 20 investors who represented 50 per cent of the group.
Lara Croft developer SCI to cut 25% of staff as losses worsen - Robin Pagnamenta
SCI Entertainment, the developer behind gaming adventuress Lara Croft, will slash 25 per cent of its workforce as part of a revised strategy that could cost up to 75 million to implement after interim losses leapt by 78 per cent.
The computer games group now expects to make a loss for the full year after losses for the six months to December 31, 2007 slumped from 17.9 million to 81.4 million on sales down from 74.5 million to 73 million.
The loss widened mainly due to a 79.6 million charge which includes the cost of aborted projects, research and development on new projects and costs being booked as development instead of research.
SCI, now operating under new management since an extensive board clear out in January, said this morning it will scrap 14 of its ongoing projects to concentrate on its "cornerstone" games including Tomb Raider, Hitman and Championship Manager.
The company is currently in negotiations with its main lending bank, Lloyds TSB, to extend its 20 million overdraft facility, with the remainder of the new strategy costs to be financed through issuing new shares as well as seeking investment from third parties.
Last year, SCI was in talks about an outright sale of the business. Although these discussions did not result in a takeover of SCI, it is understood that some parties who previously engaged in discussions may be interested in investing in the group.
Phil Rogers, previously chief financial officer at SCI who was appointed chief executive in January, denied the group was in danger of breaching its banking covenants. He said: "We have a great relationship with our banks. That is not a risk I see right now."
In a statement this morning, Mr Rogers said: "As illustrated by today's interim results...our quality has slipped below acceptable standards and, through disappointing game development and working within an ineffective operating structure, we are failing to realise the commercial return our creative ability and our shareholders demand.
"Our infrastructure is too big and expensive for the scale of the business."
Mr Rogers said SCI's business will be refocused on game development in its studios, with production, branding and PR all working together "in one time zone", while its product testing facility will now be based in Canada. SCI said that while it is no longer in takeover talks, it would not rule out a deal in the future.
Shares in SCI fell by 14.2 per cent to 45.25p - a 93 per cent fall from a five-high of 615p in January 2006.
In January, SCI replaced its top management team after takeover talks last year collapsed.
Jane Cavanagh, chief executive, Bill Ennis, managing director of publishing and Rob Murray, in charge of studios, all left the business with immediate effect after chairman, Tim Ryan, spoke with SCI's top 20 investors who represented 50 per cent of the group.
hlyeo98 - 29 Feb 2008 20:47 - 48 of 56
I haven't seen many people playing Tomb Raider anymore...time has certainly change.
cynic
- 01 Mar 2008 08:19
- 49 of 56
thought tomb raiders was an aphorsim for new investors in dud companies like SEO .... heaven forbid one should link SEG to that one!
BigTed
- 01 Mar 2008 12:22
- 50 of 56
Brother used to work for these going back a few years, when Eidos (remember them?!) were main competitors.... sorry to see their demise
ateeq180 - 10 Mar 2008 17:48 - 51 of 56
is this the last bit of dicline,looks cheap from here any one
hlyeo98 - 10 Mar 2008 17:50 - 52 of 56
no, not cheap definitely considering its poor product line...read above.
ateeq180 - 10 Mar 2008 17:52 - 53 of 56
so down to 5p or less in the coming weeks than
hlyeo98 - 10 Mar 2008 17:55 - 54 of 56
20-30p likely in the coming weeks.
Silent Service - 12 Jun 2008 15:07 - 55 of 56
Next Numbers are due next month under the NEW regime
Trading Statement may be made sometime around 17th to 24th July based on previous years. Financial Year end is 30th June 2008. Extracts from recent statements:-
--------------------------------------
From Interims 29th February 08:
The Group made a loss from operations of 81.4m in the six months to 31 December 2007; the Board now expects the Group will make an operating loss for the full financial year 2008.
--------------------------------------
From Placing and Open Offer 9th May 08:
Current trading is in line with expectations and the Company is on track to deliver cost savings of 14m from its rationalisation programme at a cost of 7m, as announced in February.: Whereas historically the Company has seen the majority of its revenue generated in the second half of its financial year, with changes to the platform and product line-up this is not expected to be the case for the 2008 financial year, and as such, the Group announced on 10 January 2008 that the Board expected that the Company would make an operating loss for the 2008 financial year.
During the three months to 31 March 2008 the Group traded broadly in line with the Board's expectations and the Board continues to expect that the Company will make an operating loss in the current financial year ending 30 June 2008. During the quarter, 2.4 million units of sales were shipped in, compared to 2.5 million
in the same quarter in the 2007 financial year.
The main new release in the quarter was Conflict: Denied Ops which has sold in over 500,000 units in the two months since release, compared to just under
500,000 units of Battlestations: Midway sold in the same quarter last year.
Gross margin for this quarter was 48 per cent, which was in line with plan and comparable to 46 per cent. in the third quarter of the 2007 financial year.
The cost reduction plan previously announced, to reduce operating costs by 14
million has commenced and is expected to be completed by 30 June 2008.
Following a review of its 2008 platform and product line-up, the Group decided
to move the release date of four titles into the 2009 financial year.
--------------------------------------
BROKERS predict year end loss of 117 million (second half loss 36 million) BUT NEXT YEAR profit of 36 million (this may be revised upwards).
There are no AAA games in the last quarter of 07/08 and Age of Conan plus summer releases of Casual Games may be too late to change things. I expect 2007/08 results to be kitchen sinked. FORECAST and OUTLOOK for 2008/09 is the KEY.
There are 4 AAA games in first half of the year with TOMB RAIDER their major project. Sales from Age of Conan plus summer releases of Casual Games will continue. Cost base will have been reduced. Phil Rogers first full half year after the January coup looks set up to be a good one first half of 2008/09 should look good.
Trading Statement may be made sometime around 17th to 24th July based on previous years. Financial Year end is 30th June 2008. Extracts from recent statements:-
--------------------------------------
From Interims 29th February 08:
The Group made a loss from operations of 81.4m in the six months to 31 December 2007; the Board now expects the Group will make an operating loss for the full financial year 2008.
--------------------------------------
From Placing and Open Offer 9th May 08:
Current trading is in line with expectations and the Company is on track to deliver cost savings of 14m from its rationalisation programme at a cost of 7m, as announced in February.: Whereas historically the Company has seen the majority of its revenue generated in the second half of its financial year, with changes to the platform and product line-up this is not expected to be the case for the 2008 financial year, and as such, the Group announced on 10 January 2008 that the Board expected that the Company would make an operating loss for the 2008 financial year.
During the three months to 31 March 2008 the Group traded broadly in line with the Board's expectations and the Board continues to expect that the Company will make an operating loss in the current financial year ending 30 June 2008. During the quarter, 2.4 million units of sales were shipped in, compared to 2.5 million
in the same quarter in the 2007 financial year.
The main new release in the quarter was Conflict: Denied Ops which has sold in over 500,000 units in the two months since release, compared to just under
500,000 units of Battlestations: Midway sold in the same quarter last year.
Gross margin for this quarter was 48 per cent, which was in line with plan and comparable to 46 per cent. in the third quarter of the 2007 financial year.
The cost reduction plan previously announced, to reduce operating costs by 14
million has commenced and is expected to be completed by 30 June 2008.
Following a review of its 2008 platform and product line-up, the Group decided
to move the release date of four titles into the 2009 financial year.
--------------------------------------
BROKERS predict year end loss of 117 million (second half loss 36 million) BUT NEXT YEAR profit of 36 million (this may be revised upwards).
There are no AAA games in the last quarter of 07/08 and Age of Conan plus summer releases of Casual Games may be too late to change things. I expect 2007/08 results to be kitchen sinked. FORECAST and OUTLOOK for 2008/09 is the KEY.
There are 4 AAA games in first half of the year with TOMB RAIDER their major project. Sales from Age of Conan plus summer releases of Casual Games will continue. Cost base will have been reduced. Phil Rogers first full half year after the January coup looks set up to be a good one first half of 2008/09 should look good.
Silent Service - 13 Jul 2008 13:30 - 56 of 56
New releases due in the Summer and Autumn from the GAME.co.uk web site. They are mainly in Quarter 1 of the financial year 2008/9.
The Olympics seems to be well covered. A selection of games for the summer holidays and then the AAA games are released in the Autumn. Just Cause 2 now seems to be due on 1st January 2009.
I cut, pasted, and edited this list from a complex web site and I apologize for any errors in advance.
JulyQ1
_1 Riding Star (PlayStation 2) ... Release date: 18/07/2008 24.99
Trading statement 22nd July
AugustQ1
_2 Mister Slime (DS) ... Release date: 08/08/2008 24.99
_3 Riding Star (PC Games) ... Release date: 08/08/2008 17.99
_4 Riding Star (DS) ... Release date: 08/08/2008 24.99
_5 Summer Athletics (Xbox 360) ... Release date: 15/08/2008 24.99
_6 Summer Athletics (PC Games) ... Release date: 15/08/2008 12.99
_7 Summer Athletics (Wii) ... Release date: 15/08/2008 24.99
_8 Think (DS) ... Release date: 15/08/2008 24.99
_9 Woodleys Summer Sport (DS) ... Release date: 15/08/2008 24.99
10 Gauntlet (DS) ... Release date: 29/08/2008 24.99
11 My Pet Hotel (DS) ... Release date: 29/08/2008 24.99
12 My Pet Hotel 2 (PC Games) ... Release date: 29/08/2008 17.99
SeptemberQ1
13 Blastworks (Wii) ... Release date: 26/09/2008 39.99
Prelim Results 15th September
OctoberQ2
14 Shellshock 2 (Xbox 360) ... Release date: 01/10/2008
15 Highlander (Xbox 360) ... Release date: 01/10/2008 39.99
16 My Little Baby (DS) ... Release date: 03/10/2008 24.99
NovemberQ2
17 Tomb Raider: Underworld (Xbox 360) ... Release date: 21/11/2008 39.99
18 Tomb Raider: Underworld (PC Games) ... Release date: 21/11/2008 24.99
These are entries from GAMESTOP.com in the US for AAA games and versions not shown above:-
NovemberQ2
US1 Tomb Raider: Underworld (Playstation 3) ... Release date: 18/11/2008 $59.99
US2 Tomb Raider: Underworld (Nintendo Wii) ... Release date: 18/11/2008 $39.99
JanuaryQ3
US3 Shellshock 2 : Blood Trails (Playstation 3) ... Release date: 01/01/2009 $59.99
US4 Shellshock 2 : Blood Trails (PC) ... Release date: 01/01/2009 $49.99
US5 Highlander: (Playstation 3) ... Release date: 01/01/2009 $59.99
US6 Highlander: (PC) ... Release date: 01/01/2009 $49.99
US7 Just Cause 2: (Playstation 3) ... Release date: 01/01/2009 $59.99
US8 Just Cause 2: (Xbox 360) ... Release date: 01/01/2009 $49.99
US9 Just Cause 2: (PC) ... Release date: 01/01/2009 $59.99
I dont think that either list is complete and both are subject to change. But they do give a flavour of how things may happen. Please check the websites yourself for more accurate information.
Note
To put things in perspective SEG has roughly 5% of the Coming Soon list in the UK.
The Olympics seems to be well covered. A selection of games for the summer holidays and then the AAA games are released in the Autumn. Just Cause 2 now seems to be due on 1st January 2009.
I cut, pasted, and edited this list from a complex web site and I apologize for any errors in advance.
JulyQ1
_1 Riding Star (PlayStation 2) ... Release date: 18/07/2008 24.99
Trading statement 22nd July
AugustQ1
_2 Mister Slime (DS) ... Release date: 08/08/2008 24.99
_3 Riding Star (PC Games) ... Release date: 08/08/2008 17.99
_4 Riding Star (DS) ... Release date: 08/08/2008 24.99
_5 Summer Athletics (Xbox 360) ... Release date: 15/08/2008 24.99
_6 Summer Athletics (PC Games) ... Release date: 15/08/2008 12.99
_7 Summer Athletics (Wii) ... Release date: 15/08/2008 24.99
_8 Think (DS) ... Release date: 15/08/2008 24.99
_9 Woodleys Summer Sport (DS) ... Release date: 15/08/2008 24.99
10 Gauntlet (DS) ... Release date: 29/08/2008 24.99
11 My Pet Hotel (DS) ... Release date: 29/08/2008 24.99
12 My Pet Hotel 2 (PC Games) ... Release date: 29/08/2008 17.99
SeptemberQ1
13 Blastworks (Wii) ... Release date: 26/09/2008 39.99
Prelim Results 15th September
OctoberQ2
14 Shellshock 2 (Xbox 360) ... Release date: 01/10/2008
15 Highlander (Xbox 360) ... Release date: 01/10/2008 39.99
16 My Little Baby (DS) ... Release date: 03/10/2008 24.99
NovemberQ2
17 Tomb Raider: Underworld (Xbox 360) ... Release date: 21/11/2008 39.99
18 Tomb Raider: Underworld (PC Games) ... Release date: 21/11/2008 24.99
These are entries from GAMESTOP.com in the US for AAA games and versions not shown above:-
NovemberQ2
US1 Tomb Raider: Underworld (Playstation 3) ... Release date: 18/11/2008 $59.99
US2 Tomb Raider: Underworld (Nintendo Wii) ... Release date: 18/11/2008 $39.99
JanuaryQ3
US3 Shellshock 2 : Blood Trails (Playstation 3) ... Release date: 01/01/2009 $59.99
US4 Shellshock 2 : Blood Trails (PC) ... Release date: 01/01/2009 $49.99
US5 Highlander: (Playstation 3) ... Release date: 01/01/2009 $59.99
US6 Highlander: (PC) ... Release date: 01/01/2009 $49.99
US7 Just Cause 2: (Playstation 3) ... Release date: 01/01/2009 $59.99
US8 Just Cause 2: (Xbox 360) ... Release date: 01/01/2009 $49.99
US9 Just Cause 2: (PC) ... Release date: 01/01/2009 $59.99
I dont think that either list is complete and both are subject to change. But they do give a flavour of how things may happen. Please check the websites yourself for more accurate information.
Note
To put things in perspective SEG has roughly 5% of the Coming Soon list in the UK.
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