WarCry Staff Posts: 2344 Joined: 5 Jan 2007 | |
Epic’d Out Posts: 6301 Joined: 30 Jun 2004 | What impairment charge?
I want to see gamma rays. I want to hear x-rays. I want to smell dark matter. |
WarCry Staff Posts: 2344 Joined: 5 Jan 2007 | Definition:
Age of Conan's value within the company's assets and stocks was bloated and thus a the company takes charge the essentially writes off the supposed value from its bottom line. More info here: http://www.investopedia.com/articles/analyst/110502.asp |
Epic’d Out Posts: 6301 Joined: 30 Jun 2004 | Read: pwned?
I want to see gamma rays. I want to hear x-rays. I want to smell dark matter. |
WarCry Staff Posts: 2344 Joined: 5 Jan 2007 | Correction: self-pwn |
Dungeon Crawler Posts: 741 Joined: 28 Jul 2004 | A.k.a.-lol |
WarCry Staff Posts: 2344 Joined: 5 Jan 2007 | It's a sad affair to be honest, and will scare funding and venture capitals towards MMO projects regardless of who to blame. The damage is done. |
Epic’d Out Posts: 6301 Joined: 30 Jun 2004 | Seriously, what kind of idiot accountants did they have to decide to put that much into goodwill =/
I want to see gamma rays. I want to hear x-rays. I want to smell dark matter. |
WarCry Staff Posts: 2344 Joined: 5 Jan 2007 | If you recall, before the release and beta, the market expectations for AoC were through the roof. The company attracted tens of millions in investor cash based on future revenues, which now we know is bust. |
Funcom's CFO Resigns Post
Norwegian developer Funcom took another hit this month with the resignation of its CFO Olav Sandnes and the impairment charge on its slightly increased Age of Conan profits. Sandnes left wishing "Trond Aas and the rest of the organization all the best in realizing the full potential of the Company."
Gamasutra.com reported that the company's revenues increased from $1.2 million to $8.7 million from the same quarter last year, but an ongoing impairment charge of $22.8 million will take a major hit off its bottom line profits.
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