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Majesco Sales And Profits See First Quarter Surge

In its first fiscal quarter, Cooking Mama publisher Majesco reports "a terrific holiday season," with both an increase in both revenues and profits, and sales up by over 75 percent.
U.S. Cooking Mama publisher Majesco’s first quarter financial results have shown an increase in both revenues and profits, in what the company describes as a "terrific holiday season." For the three months ended January 31st, net revenues rose by 75.8 percent to $32.8 million. During the all-important Christmas period, the company also saw profits rise from $2.7 million in 2008 to $4.2 million this year. Even though some of the gains are due to one-time adjustments, Majesco still raised its outlook for the year from $70 million to $75-$80 million. The company is particularly confident in its recently-announced new Go Play line for the Wii, which includes titles such as Go Play Lumberjacks, Go Play City Sports, and Go Play Circus Star. Other major titles for the upcoming year include Gardening Mama, Major Minor's Majestic March and the recently-announced reboot of A Boy and His Blob. "We had a terrific holiday season as reflected by our outstanding financial performance in the first quarter and our best quarter since implementing our casual gaming strategy three years ago," says CEO Jesse Sutton. "Our success was driven by strong demand across our product line, specifically for our Cooking Mama titles and the newly released Jillian Michaels' Fitness Ultimatum 2009, which has become a hit with approximately 500,000 copies sold to date." "We are well positioned to capitalize on the increasing demand for family friendly mass market games, the fastest growing segment of the industry, which in part is being driven by the success of Nintendo's platforms," adds Sutton.

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