Majesco to focus on Nintendo platforms
Latest company financials show losses are down after a shift away from premium titles and towards budget games.
Publisher Majesco Entertainment's sales were down $7.1 million from the same period last year, at $14.5 million for the first quarter of 2007 compared to $21.6 million in Q1 2006.
However, the company's losses are also down significantly on last year, with the operating loss reduced to $182,000 for the first quarter of 2007, compared to a loss of $2.1 million in last year's first quarter.
Majesco had previously stated that it would be moving away from big-budget games and towards cheaper, more mass-market titles, and in a statement released today, it confirmed that it would be continuing with this focus.
In Q1 2007, 99 percent of revenue came from mass-market games, and 1 percent came from premium games, whereas in Q1 2006, mass-market games made up only 18 percent of sales, with premium games contributing the remaining 82 percent.
Majesco's interim chief executive officer, Jesse Sutton, commented that the company would from now on be working mainly on Nintendo's platforms. He said, "Looking forward, we remain optimistic about the successes of both the Nintendo DS and Wii systems as their installed bases continue to grow, and we will focus the majority of our game development efforts on these platforms."
Games on the company's slate for a 2007 release include Cooking Mama: Cook Off, Cake Mania, Toondoku, Bust-A-Move Bash!, The New York Times Crosswords, Nancy Drew: Deadly Secret of Olde World Park, and Holly Hobbie and Friends.