Majesco Busts a Move on Wii
Publisher reports a net loss for third quarter, confirms bubble-popping puzzler and one other game in development for Nintendo's next-gen console.
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For third-party publishers, one of the attractive features of Nintendo's upcoming Wii console is the low cost of developing games for the system compared with the Xbox 360 and PlayStation 3. After a foray into AAA game development burned Majesco Entertainment last year, the publisher has decided that the Wii fits its current direction of budget software publishing.
As a result, Majesco today announced in its third-quarter financial earnings report that it will support the Wii, with a pair of games already in development. The company's first game for the system will be Bust-a-Move Revolution, a new version of the popular bubble-popping puzzle game, set for release in "early 2007."
"We remain focused on our strategy to publish value products and lower-cost games for handheld systems and make products with mass market appeal," Majesco interim CEO Jesse Sutton said in a statement. "Looking forward, we believe that Nintendo's new Wii console has excellent potential to capture the mass market gamer while remaining within our more conservative cost structure."
As for its financial results for the three months ended July 31, Majesco posted a modest loss, which stands as a huge improvement over its disastrous third quarter of 2005. The company reported a net loss of $724,000, a significant improvement over the $37.5 million loss it racked up in last year's third quarter. Revenues for the company were also better than last year, as Majesco brought in $12.6 million for the quarter, versus $4.6 million for the same stretch last year.