Majesco reports $1m loss for fiscal 2010

Publisher Majesco has posted a net loss of $1 million for the last fiscal year - up from a $7.2 million loss in fiscal 2009.

Revenues were down, however - for the twelve months ended October 31, 2010, the Company's net revenues dropped 20 percent to $75.6 million.

When looked at alone, the company's fourth quarter saw a net loss of $1.5 million versus net loss of $4.5 million in 2009. Revenue was relatively unchanged year on year, at $23.4 million against 2009's $23.9 million. The company claims, however, that this underplays the strong performance of its most recent titles.

"Importantly, nearly all of our key holiday titles launched in our January quarter," claimed CEO Jesse Sutton. "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."

Zumba Fitness, a Kinect title, had previously been revealed as shipping over 500,000 units. That, together with news that the firm was planning on bringing its successful Cooking Mama IP to Facebook, had apparently contributed to a 50 per cent leap in Majesco share value last week.

While revenues were down for the fiscal year, Majesco noted that operating expenses has dropped to $20.5 million, down 30 percent from the same period in 2009.

Said Sutton of the publisher's future, "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.

"Furthermore, we are also excited about our digital initiative which encompasses Xbox LIVE, PlayStation Network, iPhone, iPad, and numerous Facebook social games."

The company reported an operating loss of $2.1 million over fiscal 2010, up from 2009's $6.6 million.