Majesco sales down $2 million

via Games Industry


Majesco has announced its Q3 financial results, with sales down to USD 10 million from USD 12.4 million during the same period of the prior year.

"During the third quarter, we accomplished important operational milestones, positioning us for future growth," said interim CEO Jesse Sutton. "We continued to reduce expenses, prepared our line-up for the holiday season, and shipped six titles internationally."

"While our nine-month GAAP operating loss was USD 2.3 million, our nine-month non-GAAP operating results were almost breakeven and improved more than USD 5.0 million compared to last year," Sutton added.

To date, sales for the first three quarters of fiscal 2007 were USD 39.1 million, down USD 6 million from 2006. The company attributed the decrease to a "shift away from publishing higher-priced games in 2006 and a light release schedule in the third quarter of 2007."

Majesco lowered its fiscal 2007 guidance, expecting net revenues in the USD 50-53 million range, down from USD 56-59 million.

The majority of Majesco's sales came from its new titles rather than its back catalog, and primarily from handhelds. Titles for the Nintendo DS accounted for 66 per cent of the company's handheld sales.

During Q4, Majesco plans to ship The Wild West, Turn It Around, Operation: Vietnam, Zoo Hospital, Nancy Drew and the Deadly Secret of Olde World Park, Holly Hobbie & Friends and Fish Tycoon for the DS, as well as Kengo: Legend of the 9 for the Xbox 360. It will also release The New York Times Crosswords, Cake Mania DS, Operation: Vietnam, Toon-Doku and Kengo: Zero internationally. Tukumi Fighters for the Wii, originally announced for Q1 2008, has apparently been delayed.

As previously announced, Majseco has exceeded sales of 500,000 units of Cooking Mama for the DS since the game’s launch almost a year ago. The company has secured the rights to a sequel for for the Nintendo DS and Wii platforms and expect them to be a cornerstone of its 2008 portfolio.

Majesco will release Cooking Mama 2: Dinner with Friends, Mega Brain Boost, and Eco Creatures: Save the Forest for the DS, as well as Furu Furu Park for the Wii, in Q1 2008.