For the first quarter ended January? ?31,? ?net revenues climbed above? ?$32.8? ?million? – ?up from? ?$18.7? ?million in the same period the year prior.? ?Operating income,? ?meanwhile,? ?rose between the same two periods from? ?$2.4? ?million to? ?$3.7? ?million.? ?Net income saw similar gains,? ?up from? ?$2.7? ?million to? ?$4.2? ?million.
Jesse Sutton,? ?Chief Executive Officer of Majesco,? ?says that the company’s push into the casual sector is the driving force behind the firm’s figures:? “?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.?”
“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,?” ?he adds.
?“?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.? ?We are focused on the right market,? ?have the right strategy and have a proven management team that is delivering profitable growth and building value for our shareholders.?”
Majesco has? ?increased its outlook for? ?the full? ?fiscal year,? ?with? ?net revenue? ?expected now to reach? ?$75-80? ?million,? ?up from previous projections of above? ?$70? ?million.?