U.K. publisher SCi Entertainment today announced its financial results for the year ended June 30, and it wasn't pretty. Revenue fell from £128.8 million to £118.9 million, "reflecting major transition and change during the year" while the company's loss grew from £13.3 million to £99.1 million (about $177.5 million).

While the last year was a tough one for SCi, it now has a 25 percent lower headcount, a studio-led model with a focus on key franchises, a strengthened board, and £60 million raised.

"The 2008 results reflect a year in which we took decisive action to transform our business. We have emerged as a stronger business and over the next year we will see the results of our restructured and revitalised operation. We are focused on delivering higher quality games with our priorities clearly set on maximising the returns from our cornerstone franchises," commented CEO Phil Rogers. "We remain totally focused on and excited by the worldwide release of Tomb Raider: Underworld in November. Tomb Raider: Underworld has benefited from additional development time and a carefully choreographed build up to launch. In 2009 we will continue to see the benefits of our new structure to the releases of our games, which include Just Cause 2, Battlestations Pacific, Championship Manager 09 and Batman:Arkham Asylum.

"Our commitment to improving quality across the business and securing strategic partnerships will be the key to unlock our full potential," he concluded.

SCi, which owns Tomb Raider and Hitman house Eidos, also revealed its intention to rebrand itself as Eidos on a worldwide basis. "We are focusing our efforts on our cornerstone franchises, which are predominantly associated with the Eidos brand. The Eidos name is widely recognised in the games marketplace and is our trading name. The Board feels that it would be beneficial to align the name of the listed Company to the strong product brand that Eidos represents in order to benefit from a single identity and clearer outward and internal communication. Therefore it is the Board's recommendation to change the name of the Company to Eidos plc," the company said.

The name change won't happen for a while, however. The actual proposal will be brought forth on December 2 during the annual general meeting.