CCP Games Fire Two Executives, Closes San Francisco Office

Update: A rep. for CCP Games informed us that CCP Games CFO Joe Gallo and CMO David Reid left the company voluntarily, and were not fired, as was previously reported.

Original Story: EVE Online maker CCP Games announced during its latest financial report that it is shutting down its San Francisco-based game development studio and letting two executives go. The news comes on the heels of the company reporting a downturn in year-over-year profits.

Revenues for the first six month period of its current fiscal year came in at $36.5 million, down from $36.7 million in the same six month period of its last fiscal year. Earnings (before interest, taxes and depreciation) clocked in at $4.5 million, down from $8.3 million in the same six month period a year ago.

The cancelation of the World of Darkness MMO affected the overall profitability of the company during the six month period due mostly to termination and write-down costs for certain assets associated with the property.

As a result, CCP Games decided that it would close its San Francisco operations and let CFO Joe Gallo and CMO David Reid go. CCP Games manager Hilmar Veigar Petursson said that the company's new focus going forward will be solely on its flagship product, EVE Online.

Source: Gamasutra

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