- Semi-Annual CCP hf 2014
- Revenue and margin in the first half of the year were stable compared to the same period last year
- and marketing and general operating expenses declined. The company ended the period with 11.3 million
- USD in cash and long-term debt decreased by 2.1 million. determined by the Company
- to stop the development of multi-play computer game World of Darkness has resulted in considerable
- costs due to the termination provisions, depreciation and write-downs of particular intangible assets.
- This cost and depreciation has a negative impact on performance for the period.
- As part of their plans to merge and streamline their operations CCP has closed
- office in San Francisco and two of the company managers, Joe Gallo and CFO
- David Reid Marketing, which are located outside the cities CCP has offices in will
- leave the company.
- Key figures
- - Revenue for the first six months totaled 36.5 million, subject to 36.7
- million in the same period of 2013.
- - Gross profit for the period amounted to USD 33.3 million, a decrease of 1.8% without
- same period of 2013.
- - Expensed research and development costs increased by 28 million
- compared to the same period last year primarily due to a substantial increase in
- amortization and impairment of certain capitalized development costs as a result of
- development of the World of Darkness project was stopped.
- - Amortization of development costs, totaling 24 million without
- tax effects, is by far the biggest factor in the company return loss for the period up to 22.8
- - The company produced 4.5 million in EBITDA for the first six months
- year, down from 8.3 million in the same period of 2013.
- The decrease is attributable to the costs of notice provisions and departing employees
- increased costs to the first stage of new development projects.
- Hilmar Veigar Pétursson, manager:
- "Stable revenue and margin from one year to show that our core business, publishing and
- development of the computer game EVE Online, is going strong. In April we took the difficult decision to quit
- development of the computer game World of Darkness and focus to the goal of developing games for
- one and the same game world; EVE game world.
- As part of our plans to combine and simplify our business in key operational
- company, we will soon say goodbye to two of the Company's management. Joe Gallo and David
- Reid won a great job for the CCP and I wish them all the best for the future. "
a guest Aug 27th, 2014 913 Never
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