Majesco Entertainment has revealed its financial earnings report for the fiscal fourth quarter and fiscal year ended on October 31, 2011. For the fourth quarter, revenue was $25.1 million, up 8 percent over the previous year. The quarter saw a net loss of $3.9 million, up from a net loss of $1.5 million in fiscal 2010.
For the twelve-month period ending on October 31, 2011, the publisher’s net revenues jumped 66 percent, landing at $125.3 million. Majesco ended in the black with a net income of $6.8 million, versus a net loss of $1 million last year.
"In 2011, we experienced the successful launch of a brand new franchise for Majesco; Zumba Fitness has quickly become the fastest selling title in the company's history and the world's #1 fitness title of 2011. We grew revenues over 65% in 2011, expanded gross margins by over 1200 basis points, and delivered significant profits to the bottom line,” said Majesco CEO Jesse Sutton.
“Zumba Fitness has taken the fitness category by storm, selling over 4 million units worldwide in its first 12 months, and topping the charts as the #1 fitness title of the year in the US and UK. Finally, we are also excited about our digital initiatives -- we learned a great deal in 2011, made a strategic acquisition of Quick Hit, and plan to apply this knowledge to a robust 2012 slate of social and mobile titles."
Heading into 2012, Majesco has released a number of titles in its fiscal first quarter, which includes the Christmas shopping season. Among them is stand-out Wii fitness title Zumba Fitness 2, which has already sold more than 1 million units worldwide, pushing the franchise total to over 6 million. Majesco is planning to followup with Zumba Fitness Rush for Xbox 360 Kinect sometime in 2012.
Other titles in the first quarter include Twister Mania!, Cooking Mama 4: Kitchen Magic, Jillian Michaels’ Fitness Adventure, Nano Assault, and Alvin and the Chipmunks: Chipwrecked.
Majesco expects a fiscal 2012 net revenue in the range or $125 to $140 million.
