Record Q2 results for Majesco

Following its record first fiscal quarter ended January 31, Majesco has today announced record financial results for its second quarter and six-month period ended April 30. Just as it did following the announcement of its Q1 results in March, Majesco has attributed its recent success to increased sales of its Game Boy Advance titles.

For the quarter ended April 30, 2004, Majesco reported net revenues of $17 million, which represents a 24-percent increase over the $13.7 million it achieved during the same period 12 months earlier. Gross profit for the quarter was up from $4.6 million in 2003 to $5.4 million, while operating income was up from $450,000 to $1.1 million.

For the six-month period ended April 30, 2004, Majesco reported net revenues of $41.7 million, which represents a 54-percent increase over the $27.1 million it achieved in 2003. Gross profit for the six-month period was up from $9.9 million last year to $12.9 million, while operating income was up from $837,000 to $3.5 million.

"We were pleased with the quarterly financial results, as this is traditionally a weak quarter. Our product line, in particular our Game Boy Advance Videos, has generated a strong response in the marketplace, [including] notable media coverage in national publications and substantial press at this year's E3 convention in Los Angeles," said Jesse Sutton, CEO of Majesco. "Moving forward, we are excited about the second half of our fiscal year as we expand our Game Boy Advance Video lineup, prepare to ship major franchise titles, and introduce new products--such as TV Arcade and Wireless Messenger--all of which will serve as a significant foundation for the ensuing fiscal year."