FUN Technologies Q2 Sales Up 68%

Online and casual publisher FUN Technologies, parent group of the Skilljam and Worldwinner sites, has announced its second quarter results, showing sales up 68% to $16.9 million, but quarterly losses of $7.6 million, down from $8.8 million the year prior. Sales for its games division accounted for $10.4 million of the $16.9 total, up 82 percent over 2006, and up $1.2 million over its first quarter. Fun Technologies subsidiary WorldWinner in April announced the renewal of its agreement with AOL to provide skill-based cash and prizes, and other tournaments on AOL Games and Games.com, which saw WorldWinner develop a customized, co-branded site where AOL players can compete against other players in the WorldWinner network at games like Bejeweled 2. FUN CEO Lorne Abony said, “FUN Technologies had a record quarter, mainly due to consolidation in the Games segment that continued to produce extremely favourable results and the addition of Major League Baseball-related Fantasy Sports operating results. We are extremely pleased to record the Company’s first quarter of free cash flow and with the significant improvement the Company achieved in Adjusted EBITDA."