Majesco turns a profit

Besieged publisher's revenues down sharply, but it winds up in the positive, thanks in part to sale of Teen Titans.

After a rough year, Majesco Entertainment may be on the road to recovery. After a brutal 2005 that saw commercial stagnation from high-profile releases such as Psychonauts and Advent Rising, the publisher abandoned the world of premium game development and changed its focus to budget and portable games. The company has now released financial results for its second quarter, ended April 30, and it has shown a profit under this new approach for the first time.

For the quarter, the company reported revenues of $11.6 million and net profits of $839,000. At the same time last year, the company boasted higher revenues of $19.9 million--and eked out $189,000 in profit. Those figures include gains from the sale of the Teen Titans console game Majesco had been set to publish to THQ. The publisher previously sold off another pair of high-profile games with comic book origins, Ghost Rider and The Darkness, to Take-Two Interactive.

While selling its games to other publishers has padded Majesco's revenues of late, the company still sells games to consumers, as well. The company touted the success of Nintendo DS games Age of Empires and Guilty Gear Dust Strikers as helping to establish its foothold in the portable market. It also said that the recently released and critically disdained Jaws Unleashed has seen "traction" in the market.

Despite the profit, the quarterly results don't appear to have inspired much investor confidence. As of press time, Majesco stock was trading down $.06 (nearly four percent) from its closing price yesterday before the results were released.

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Discussion

28 comments
ragingoptimistu
ragingoptimistu

I felt really bad for Majesco after Psychonauts didn't sell well, despite being an awesome game!

Fallout_red
Fallout_red

Jaws" U was in no circumstances a bad game. GS really made a big mistake about Jaws, I deserves at least a 6. The perfect score could have been between 7.5 and 8.4 . Go Majesco, kool.

ac2basis
ac2basis

That is what happen when virgin mormon's try to make their first game. Psychonauts is one of the best Xbox games ever released though. People seriously need to experience it. I wish I could play it on my 360.

LordGamer0001
LordGamer0001

if advent rising didnt have so many bugs with it then it could have been a good game.

rbarahona
rbarahona

It was a shame for Majesco that some of their premium titles didn't perform very well despite great reviews and word on the street. However It's nice to read that they have another way of being profitable and continue in the market. I really hope that we can see more console games from Majesco in the near future.

NeoJedi
NeoJedi

Very good news to see that this wonderful company has turned a profit. Psychonauts was an incredible game.

Mindphaser
Mindphaser

Majesco releases seriously buggy titles. Age of Empires DS can literally self distruct and stop working due to a save bug.

adolfogomez
adolfogomez

I liked Psychonauts, and I'm gona take a chance on Guilty Gear: Judgment for the PSP in a few months I think

A7Xfan
A7Xfan

These guys brought us Pyschonauts they deserve much larger profits than this.

John_of_Fire
John_of_Fire

Good to see them stabilizing. I hope they are able to keep afloat. I like their stuff. I was looking forward to Jaws but all the news about being buggy is driving me away. It looks like a good thing they traded up Titans.

EvanO_O
EvanO_O

Psychonauts is like the most charming game out in the market...It's really a game everyone needs to experience.

gjb-sensei
gjb-sensei

This article reminds me that I really need to get Age of Empires for the DS at some point.

cycoivan
cycoivan

It's funny. They're selling Ghost Rider to Take-Two who is in bigger financial trouble that they are. Which means Take-Two will probably sell it Which means the game will probably suck. :(

dwmorrow
dwmorrow

People are actually buying that crummy Guilty Gear game? I did hear AoE was pretty good.

DBone420
DBone420

Screw that 3.8 score Gamespot gave Jaws Unleashed. The game is seriously fun!

o_sausage
o_sausage

Teen Titans????? what about phyconauhts that deserved to sell millions and millions and miliions...

Blazer88
Blazer88

They seem like a good company to me.

blackIceJoe
blackIceJoe

I do not know why people did not like Psychonauts and Advent Rising both real real cool games.I for one so want to see a Psychonauts 2 game but most likely willl not. I did not like Teen Titans was not as good in my eye's as it could have been but was still good. Maybe if they ever make another Teen Titans game maybe they could learn what to add and what not to add.Next time around I would like to see a Teen Titans game for the PSP.

FoxHoundADAM
FoxHoundADAM

THey make some pretty good under rated games. Even Infected for the PSP was muich better than I thought it would be.

WolfSkill5544
WolfSkill5544

I hope they get back on track, they published some pretty good games, and I can't wait for bloodrayne 3, they are publishers.

hirushubi2
hirushubi2

It is so surprising that you can even make profit off of a teen titans game.

slickr
slickr

way better than in the blue.

1blackhearted1
1blackhearted1

with games like "Jaws Unleashed" (3.8 score) it's no wonder they have problems.

Vellyvel
Vellyvel

That's good news for me, I own their stock.

Donkeljohn
Donkeljohn

Don't call it a comeback! They've been here for years.

bulldog7
bulldog7

yep, no kidding, better than in the red

squarephreak
squarephreak

Well, profit is profit. At least they're in the black.