Cooking Mama publisher‭ ‬Majesco Entertainment has reported‭ ‬encouraging financial results,‭ ‬showing an annual net revenue rise of‭ ‬75.8‭ ‬percent,‭ ‬net income up‭ ‬54‭ ‬percent,‭ ‬and a upward revision to FY09‭ ‬guidance.

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.‭