Officials from video game accessory, standalone handheld and "TV game" maker Radica Games today announced that financial advisement firm Navigant Capital Advisors, LLC has been brought on to assist the company in exploring unspecified strategic alternatives to enhance shareholder value.
A number of options are reportedly being considered, including the possible sale of the company, which reported
net income of $10.5 million in 2005, compared to $3.5 million a year prior. During this time, Radica's sales increased 31.9 percent to $162.8 million from $123.4 million.
However, Radica Games did note that any decision would likely take several months to finalize, and while several options are being considered, none, including the aforementioned possible sale, are a certainty at this point. The company said that it will not make any further announcements until the board of directors have completed the analysis of the proposed alternatives and, if appropriate, decided on an approved course of action.
Radica's line of products include both toys and the Play TV line of all-in-one 'TV games' that includes Tetris
, Street Fighter II
, Space Invaders
and EA Madden Football