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Majesco Reports $1.5M Quarterly Loss

Cooking Mama publisher Majesco reported losses of $1.5 million for its Q4, an improvement over losses of $4.6 million for the same quarter a year ago, with Zumba Fitness to provide a boost going forward.
A focus on cost reduction and mass market-targeted video game franchises led Edison, NJ-based Cooking Mama publisher Majesco to report smaller losses for fiscal Q4 and the full year. The company this week reported losses of $1.5 million for fiscal Q4 ended October 31, 2010, an improvement over losses of $4.6 million for the same quarter a year ago. Quarterly revenues were down 2.2 percent year-on-year to $23.4 million. Annual losses were $972,000, a substantial improvement over the $7.2 million losses the company incurred during the prior year. But revenues for the year were $75.6 million, down 20 percent. During the year, Majesco shipped 75.6 million software units, with around 65 percent of those units shipped for Nintendo DS, 31 percent for Wii and 3 percent on other platforms. Majesco CEO Jesse Sutton said in a statement he is optimistic for the year ahead. "We are encouraged by the strong start to fiscal 2011, led by the recent launches of Crafting Mama, Babysitting Mama, and Zumba Fitness for Kinect, PlayStation Move, and Wii." He confirmed that Zumba Fitness shipped 500,000 units in under two months, adding that sales of that game and other key titles for the company launched outside of fiscal 2010, so the strong holiday sales are not included in the most recent full-year and Q4 results. "Development is already well underway for numerous titles on new platforms, including Kinect for Xbox 360, PlayStation Move, as well as Nintendo 3DS," Sutton added. "Furthermore, we are also excited about our digital initiative which encompasses Xbox Live, PlayStation Network, iPhone, iPad, and numerous Facebook social games."

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