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Funcom CFO Resigns After Losses
Age of Conan Vault - The Ultimate Resource — ... GamesIndustry.biz fills us in on the latest Funcom report, in which financial results for the fourth quarter revealed an operating loss of 23.3M USD. 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 ...

Here’s hoping WAR doesn’t follow AOC
Snaffy's Space — ... A quick newsbit I’d like to mention: Funcom’s CFO just resigned after a dismal Q4 2008 and AoC now supports an estimated 100k subs. ...

Funcom CFO resigns in wake of $23.3M loss
Massively — ... loss of USD 23.3 million, caused by a depreciation of USD 22.8 million due to the lagging performance of Age of Conan." In addition, Funcom CFO Olav Sandes given notice of his resignation. Sandes is not the first high level employee to quit in recent months, but all is not doom and gloom.... Funcom CFO resigns in wake of $23.3M loss originally appeared on Massively on Mon, 23 Feb 2009 11:00:00 EST. Please see our terms for use of feeds.   Read | Permalink | Email this |  ...

Crom Was Not Happy
Broken Toys — Funcom announces $23 million loss last quarter based on $22 million depreciation of Age of Conan expenses, CFO resigns. Shortly after Age of Conan launched, Funcom saw subscriber levels of 400,000, which rocketed up to 700,000 within a few months. 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, reports E24. However, revenues in the fourth quarter of 2008 rose to ...

‘Age of Conan’ Developer Reports $23.3 Million Loss, CFO Quits
MTV Multiplayer — ... Funcom’s fourth-quarter financial results revealed that the company had an operating loss of $23.3 million, “caused by a depreciation of USD 22.8 million due to the lagging performance of ‘Age of Conan,’” Gamesindustry.biz reported. ...

AoC: The Bleed Continues
The Common Sense Gamer — Before I go on with this, let me just again say that I hope I’m totally wrong regarding my outlook for AoC. I try. I really do try to remain as positive as I can but these guys just give me the heebie-jeebies. The latest news out of Funcom, besides them hiring more people (…./boggle…): 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 ...

Age of Conan - Turmoil and a CEO buy up
Funcom...riddle me this.. — ... "Funcom announces $23 million loss last quarter based on $22 million depreciation of Age of Conan expenses, CFO resigns." ...

Why aren't other MMORPGs doing better?
Tobold's MMORPG Blog — ... This week's news was that Age of Conan lost $23.3 million last quarter, after their subscriber base shrunk to less than 100,000. Or as ...