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CCP closes San Francisco offices, loses two key executives

With revenue and profits down year-over-year, EVE Online company CCP Games has chosen to shutter its San Francisco studio, and lost two of its U.S. executives.
With revenue and profits down year-over-year, EVE Online company CCP Games has chosen to shutter its San Francisco studio, and lost two of its U.S. executives. Revenues for the first six months of the current fiscal year were $36.5 million, down from $36.7 million year-over-year, while earnings before interest, taxes and depreciation were $4.5 million, down from $8.3 million year-over-year. Joe Gallo, CFO at CCP Games, and David Reid, CMO at the company, have both left the company, said CCP in its latest financial statement. A CCP rep told us, "the split was an amicable one." The company noted that the cancellation of MMO World of Darkness has resulted in considerable costs, including termination and write-down costs for certain assets. CCP manager Hilmar Veigar Petursson said that the company's new focus solely on its EVE Online universe will help it remain strong. It's been tough going for CCP Games as of late. Following the cancellation of World of Darkness, the company laid of dozens off staff across all of its studios. Update: CCP has confirmed to Gamasutra that Gallo and Reid left CCP of their own volition, rather than being laid off.

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