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Majesco Q2 Revenues Up 78 Percent
Majesco has posted $20.3 million (£12.4m) in US revenues for the second quarter of its financial year, ended April 30.
Sales were up $8.9 million, or 78 percent, over the same period last year, primarily due to the continued success of the company’s Cooking Mama franchise, which last month passed four million unit sales in the US, as well as strong sales of Jillian Michaels' Fitness Ultimatum 2009.
"We delivered another impressive quarter as we continued to successfully execute on our business plan and capitalise on the strength of the family friendly, casual game market,” said Majesco CEO Jesse Sutton.
During the second quarter the company reported an operating loss of $0.6 million (£367,000), compared to a $0.3 million loss in the second quarter of 2008.
“As expected, profitability in the quarter was dampened by our strategic marketing campaigns as we made investments to support the growth of our franchises and most promising titles,” added Sutton. “We believe the benefits of these investments will continue beyond the first half of 2009 and help drive future growth.”
The publisher also raised its fiscal 2009 revenue guidance from $80 million to $85 million (£52m), based on year to date sales and the strength of its upcoming Wii and DS dominated release schedule.
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Copyright 2006 - 2009 Future Publishing Limited, Beauford Court 30 Monmouth Street Bath, UK BA1 2BW
England and Wales company registration number 2008885
I'm always glad to hear good news about Majesco. They had some pretty good console games last gen (Advent Rising bombed, but I actually really liked the game). After that game bombed I remember them saying they were done (for now) with making big blockbuster games and were going to focus more on smaller more casual games until they could afford to make another big console game. My fingers are crossed for Advent Rising 2 (it was supposed to be a trilogy) on PS3/360.
I seem to remember them saying that they weren't planning on going back to big-budget hardcore games anymore, that their newfound arena suited them just fine.
The did, but they also said that if from a business perspective it made sense and they had the funds they would consider making a big budget game. I would imagine that'd only be after a couple years of solid profits and they could afford another bomb if it were to happen. It didn't sound promising though.
Yeah, and they're still putting out niche games like Nanostray, so it's not like they're making casual for casual's sake. On the other hand, I don't particularly care about Majesco since Psychonauts is probably the only decent console game they've published.
Cooking Mama is a really good game, so it shows if you want to you can make a good casual game.