Funcom has reported its financial results for the fourth quarter, revealing an operating loss of USD 23.3 million, caused by a depreciation of USD 22.8 million due to the lagging performance of Age of Conan.
The poor performance is compounded by the announcement that the company's chief financial officer, Olav Sandnes, has resigned from the position.
"Funcom is a company with a substantial potential based on a unique combination of skill sets in a fast growing global market. I wish Trond Aas and the rest of the organisation all the best in realising the full potential of the company," commented Sandnes.
While Funcom's cash position remains robust at USD 39.4 million, the company reported a full-year net loss of USD 33.8 million. According to estimates by DnB NOR Markets, subscriber levels for Age of Conan are below 100,000
Funcom CFO resigns following $23.3m loss
http://www.gamesindustry.biz/articles/f ... 23-3m-loss
