Majesco Reports Quarterly Loss and Plans to Raise Money

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MajescoMajesco Entertainment reported its financial results for its fiscal second quarter ended April 30, 2009:
For the quarter, Majesco reported a net loss of $1.696 million, compared to a net loss in the same quarter the previous year of $257,000. Majesco says that the net loss is because of its "...strategic marketing campaigns as we made investments to support the growth of our franchises and most promising titles." In other words, Majesco didn't sell a lot in the early months of the year, and spent a lot of money developing and marketing titles that will release later in the year.

Majesco has successfully migrated to being a publisher of casual games from its previous aim at developing AAA titles, and that can be seen in the distribution of its revenues by console. Majesco expects that 56.5% of revenues will come from the Wii in the 2009 fiscal year, and 40.1% will come from sales of DS games.

Majesco also reported that it has filed a shelf registration statement with the United States Securities and Exchange Commission that will allow Majesco to sell up to $20 million of securities in varying forms. Because it is a shelf registration, the types of securities Majesco may sell have not yet been finalized, but the company is that much closer to raising the $20 million.

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This page contains a single entry by Editor published on June 15, 2009 3:39 PM.

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