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Bits

Companies: BIT   
11/06/2001

Maiden full-year figures from computer games developer Bits were slightly ahead of expectations, a £1.2m loss being turned in for the 12 months to March on £1.6m of sales. The majority of this revenue came from the company's internet-based Virtual Athlete game, which has over 12,000 registered players and has attracted sponsorship from MSN, AOL and Kellogg. Like many of its peers Bits is now waiting for the launch of Nintendo and Microsoft's next generation consoles, recently being awarded the development and co-publishing rights for a new Nintendo Game Cube title based around the Die Hard films. As part of the deal Bits has also secured the European distribution rights from Fox Interactive, but intends to sell these to a more high profile publisher this year.

Market cap: £5.55m
PE Forecast: 6.18
Share price: 17.5p

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