Majesco financials show strong year-on-year growth

Majesco yesterday released its financial report for the quarter ending January 31, 2011 - showing increased profits and revenues year-on-year.

The rise was largely pushed by sales of Zumba Fitness and Babysitting Mama - resulting in a 66 per cent increase of revenue from the same quarter the year previous. Total revenue for the quarter was $48.5 million (£30m).

Profits rose by an even larger margin, increasing by 79 per cent to $6.8 million (£4.2m). Predicted earnings for the full financial year, of which this is the first quarter, were raised in accordance with the figures, up to $100-110 million from $80-90 million.

"Majesco had one of its best holiday quarters in the company's history," said CEO Jesse Sutton. "Zumba Fitness has proven to be an extremely successful title, and is quickly establishing itself as another key franchise alongside Cooking Mama.

"We were pleased with the Babysitting Mama and Crafting Mama launches, as both sold well at retail and show that the Cooking Mama brand is alive and well. We've also made significant progress with our digital initiative - we are building this business alongside our traditional retail business.

"We made our first real entry into the social games business with Cooking Mama Friends Cafe on Facebook, and are happy to announce that we have over 750,000 active users, despite a very limited marketing campaign to date. We are already hard at work preparing to launch our next Facebook game this spring - Parking Wars 2, based on the A&E television series in its fourth season.

"We plan to release at least three Facebook games this fiscal year, and have an experienced team working on optimizing the gameplay to improve the overall experience and monetisation."