February 28, 2017 / 9:36 AM / 8 months ago

BRIEF-Funcom Q4 EBIT loss narrows to $0.6 million

Feb 28 (Reuters) - Funcom NV:

* Reported on Monday Q4 revenue of $1.7 million versus $2.6 million year ago

* Q4 EBIT loss $0.6 million versus loss $0.7 million year ago

* Says Q4 revenue was down following gradual and expected decrease in sales from current Live Games

* Says continued its cost-saving efforts in Q4 and realized operating cost savings of $0.8 million compared to Q4 2015

* Cash position decreased from $5.2 million at end-Q3 to $3.8 million at end-Q4 as result of investment made into Conan Exiles and The Secret World relaunch

* Says two new projects are in early concept stages and will enter pre-production at earliest during H2 2017

* Says has ability to fund its operations for next 12 months after end-Q4

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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