Majesco has released its financial earnings results for the third fiscal quarter ended on July 31, 2011. The company reported net revenues of $19.5 million, up 61 percent from $12.2 million during the same period last year. Net income for the quarter came to $1.9 million, versus a net loss of $1.6 million year-over-year.
For the nine-month period ending on July 31, 2011, Majesco's net revenue came to $100.2 million, up 92 percent from the same period in the preceding year. Net income rose to $10.7 million compared to a previous net income of $0.6 million for the nine months ending on July 31, 2010.
The company’s big winner for the quarter was Zumba Fitness for Wii, which surpassed 3 million units sold worldwide and held the #1 spot on Chart-Track’s all formats sales charts for ten consecutive weeks.
"Despite what is normally a seasonally weak time for our business, Majesco experienced another strong quarter. Driven by strength in Europe this past quarter, Zumba Fitness has now sold over 3 million units worldwide,” said Majesco CEO Jesse Sutton.
Heading into the fourth quarter, Majesco has a number of titles planned for console and digital platforms, including the just released BloodRayne: Betrayal for PSN and Xbox Live; Hulk Hogan’s Main Event for Xbox 360 Kinect; Parking Wars 2 for Facebook, and Camping Mama: Outdoor Adventures for Nintendo DS. The beginning of fiscal year 2012 will also see the release of marquee titles like Zumba Fitness 2 for Wii and Cooking Mama 4 for Nintendo 3DS.
For its full-year forecast for fiscal year 2011, Majesco expects net revenues in the range of $120 to $130 million.
