Majesco has been steadily making gains as it tries to re-enter the black; the company recorded a$1 million net loss in fiscal 2010. While a loss is never a good thing, the upside is that this is an improvement over the $7.2 million net loss in 2009.
Operations wise, Majesco also improved over a $6.6 million operating loss in 2009. The company only recorded a $2.1 million operating loss in 2010.
Majesco remains confident that they will be able to bounce back with several popular titles, and some have already made substantial gains in sales. With Crafting Mama, Babysitting Mama and specifically Zumba Fitness selling over half a million units, Majesco is on the up and up.
While Majesco is firmly planted in a casual audience setting, they have definitely embraced Facebook gaming. The publisher recently released Friends Café to the social network.
Commenting on the year’s performance, CEO Jesse Sutton remained optimistic over the course of 2011 for Majesco: “In 2010, we significantly reduced our net loss by reducing costs and focusing on our mass market game franchises and the holiday selling season. We are encouraged by the strong start to fiscal 2011, led by the recent launches of Crafting Mama, Babysitting Mama, andZumba Fitness for Kinect, PlayStation Move, and Wii. In particular, Zumba Fitness is off to a fantastic start and has already sold over 500,000 units in less than two months.
Though sales of these three big titles have been substantial, they have not been included forfiscal 2010, says Sutton. “Importantly, nearly all of our key holiday titles launched in our January quarter. Therefore, our fourth quarter and fiscal year 2010 results do not reflect the successful launches of Zumba Fitness, Babysitting Mama, and a significant number of reorders for Crafting Mama, which was not released until the final week of October.”
"In 2011, we expect to continue to publish innovative new titles that cater to the mass-market audience, on whichever platforms they are attracted to. Development is already well underway for numerous titles on new platforms, including Kinect for Xbox 360, PlayStation Move, as well as Nintendo 3DS, which is expected to launch this March in North America. Furthermore, we are also excited about our digital initiative which encompasses Xbox LIVE, PlayStation Network, iPhone, iPad, and numerous Facebook social games," he concluded.
