Funcom has released their quarterly returns for the first quarter of 2014, and the results are certainly interesting to look at. Revenues have remained relatively stable, decreasing slightly to $3.8 million from $4.2 million last quarter. Funcom has seen a steady decrease in revenue since the launch of The Secret World, with revenues at nearly half of what they were in the first quarter of last year, $6.3 million. Despite the lowered revenue, Funcom’s cash position improved from $2.5 to $2.8 million over last quarter. The company also noted that 15 million shares were sold to the tune of $5.5 million which was used to pay interest bearing debt.
The upcoming Lego Minifigures video game hit all of its major milestones and is on course for a beta launch in June 2014 and a commercial launch later this year. Nothing has changed regarding last year’s investigation into Funcom by Økokrim. Funcom’s offices were raided last year by the Norway’s economic crimes unit and is currently being investigated for possible insider trading and negligence. There are no details on how long the investigation will take.
(Source: Funcom presentation)
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