Funcom

Funcom CFO Resigns; Q4 Losses Reported at 23.3 Million

Posted Feb 23, 2009 by Kody

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In news originally published by gamesindustry.biz, it looks like Age of Conan's woes continue, this time on a financial level, as Funcom reported losses of more than 23 million USD for the fourth quarter of 2008.

In addition to poor performance in both sales and subscriptions, the company's CFO, Olav Sandnes, has resigned from his 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," Sandnes said about leaving the company.

For the entire year, Funcom reported losses of around 33.8 million USD, though revenues did rise sharply in the fourth quarter, primarily due to Age of Conan subscriptions.

To read more on the article, head over to gamesindustry.biz.

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  • nitrus6 said 
    Tue, Feb 24 2009 10:37 AM ()

    Funcom=Failcom. The reason why I say this isn't so much now about how I spent $80 dollars for a unfinished product but how people like Erling Eilson and others that do media talk about the first months. They say, "We had great success with AoC in the first months!". No SIR, You failed your customers by selling promises you couldn't deliver. If they would have been honest and just came out to say "Hey, we screwed up badly; We are fixing these issues within 6 months we will have everything we promised you in this game." I would be playing.

    FUNCOM = FAILCOM to their customers.

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  • Meatpieandwow said 
    Mon, Feb 23 2009 11:19 PM ()

    Thats what you get when you rush your game out.

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  • DoranM said 
    Mon, Feb 23 2009 7:48 PM ()

    bailout!

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  • dusthawk said 
    Mon, Feb 23 2009 3:41 PM ()

    Fun times for Funcom :(

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