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Zumba Fitness Drives Majesco To Third Consecutive Quarter Of Growth

Majesco has raised its annual financial guidance following a Q3 that saw nearly $2 million in profits thanks to the (mainly European) success of its 3 million-selling Zumba Fitness.
Majesco has reported its third consecutive quarter of growth thanks again to the runaway success of its Zumba Fitness franchise. For its fiscal quarter ending July 31, the company reported revenues of $19.5 million, up 61 percent from the $12.2 million it reported a year prior. Profits were reported at $1.9 million, versus a loss of $1.6 million. For these first nine months of its fiscal 2011, the company has increased revenues 92 percent to $100.2 million versus the same period in fiscal 2010. Zumba Fitness' contribution to the company's growth can not be overstressed: the game, which has sold over 3 million copies worldwide to date, reportedly accounts for around 70 percent of the company's revenues. "Despite what is normally a seasonally weak time for our business, Majesco experienced another strong quarter," CEO Jesse Sutton told investors today. As a result, the company has again raised its revenue guidance, to a range of $120 to $130M from $110 to $120M. To put that growth into perspective, the company began fiscal 2011 with a guidance in the range of $85 to $90 million, and has raised it as each quarter passed. The company's lineup for the remaining quarter includes the just-released BloodRayne: Betrayal, Kinect titles Hulk Hogan's Main Event and Motion Explosion, and a handful of titles for Nintendo 3DS. Its holiday lineup, which falls into its fiscal 2012, is driven by Zumba Fitness 2 and Cooking Mama 4, the latest in a series that has sold 12 million copies to date.

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