Majesco Q1 revs slip 11%

Following NASDAQ delisting notice, Cooking Mama publisher posts $3.8 million profit on $29.2 million sales for Nov.-Jan. quarter.

Majesco began March on shaky footing, after announcing that it had received a NASDAQ delisting warning due to maintaining an insufficient stock valuation. And while the Cooking Mama publisher continues to make money, it did so to a lesser degree during its November-January earnings period.

Mama's cooking remains in high demand.

Reporting on its first-quarter results for the period ended January 31 this week, Majesco said that net revenues slipped to $29.2 million, down 11 percent year-over-year. Net income saw declines during the period as well, falling 10 percent to $3.8 million.

Majesco attributed the decline in large part to Jillian Michaels' Fitness Ultimatum 2009, which sold well enough to create a tough comparison. In a post-earnings conference call, Majesco CFO John Gross noted that while the most recent installment performed to expectations, it came in well below the first installment, released in October 2008.

As for those titles that did perform well, Majesco's warhorse Cooking Mama franchise had another big quarter, selling some 500,000 during the three-month period. Of these games, the newest release Cooking Mama 3: Shop and Chop for the DS led sales, though the publisher noted that catalog titles continued to be in demand. Other top performers included Alvin & The Chipmunks: The Squeakquel and Hello Kitty-branded games.

Majesco maintained its 2010 fiscal-year outlook following the announcement of its first-quarter results. The company expects full-year revenues to hit $80 million, resulting in $0.05 earnings per share. All said, Majesco is on track to release 14 DS and 16 Wii titles during its 2010 fiscal year ending October 31.

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Discussion

12 comments
seacowphil
seacowphil

I hope that if they go too far down the drain they get bought out so we can have more cooking mama! Hopefully by a well known company.

TheCyborgNinja
TheCyborgNinja

I always felt kind of bad for Majesco. I remember them trying so hard to go from a bugdet company to a larger one, only nobody bought their games. That alone spoke volumes to me over Activision-Blizzard, who are essentially a monetary version of the Stasi, pushing morons around and bullying everyone else.

FidelSarcastro
FidelSarcastro

Well let's be honest about this, Majesco has been in the financial toilet for the last few years. True they have in their history created some good titles but that doesn't change the fact since their Next-gen fiasco which eventually led to them trashing that division and instead focusing on the handheld market they have been In the hole financially. I mean they have been de-listed or in danger of being de-listed on several occasions over the last few years, that and they have been playing a non stop game of musical chairs when it comes to the brass of the company. Eventually the other shoe is gonna drop, it's now a matter of when, not if.

risingsunbronco
risingsunbronco

Damn, am I the only one that is holding out for a mircle and a BloodRayne 3 game gets made...like ever? I always click on Majesco news just to see if there even a hint that these guys will release the rights to another. *sigh*

PublicNuisance
PublicNuisance

These guys have license to some decent franchises that could be utilized. Stop focusing so much on Cooking Mama.

cytheh
cytheh

make blood rayne 3 !!!

lamprey263
lamprey263

I actually liked the first Cooking Mama on the Wii... but one is enough, they really need to publish something better

wwonka666
wwonka666

This explains why I can't even buy there recently released Data East Arcade Classics on the Wii, they don't have enough money to produce discs and I have been unable to find a copy at retail and don't want to order it from Amazon.

XenoLair
XenoLair

Cooking sama is better xD give it a google if you dare! But nah, they have cool little casual games.

Kleeyook
Kleeyook

OMG! I feel sorry for PSP developers that never got such high selling with such casual games. :(