Funcom Losses Mount Prior to Age of Conan Release

Prior to the release of Age of Conan another FunCom financials hit the street, with Gamasutra providing us with a short analysis. It should be noted all these losses were expected by the company, but they’re clearly heavily invested in Age of Conan, which is looking more and more like a must-succeed title.

Officials from Norwegian publisher and developer Funcom have released details of the company’s first quarter financial results, for the three months ended March 31st. During this period the company saw an EBIT (earnings before interest and taxes) loss of $3.13 million, up from $1.21 million at the same time last year.

Earnings after tax, though, saw an improvement from a $0.22 million loss last year to a $0.92 million profit this year, primarily attributed to currency fluctuations and tax income.

Sales increased slightly from $1.64 million to $1.80 million for the three month period, with revenues resulting from existing titles Anarchy Online and the company’s mobile subsidiary Plutolife described as (steady).