Majesco Reports Great Annual Financial Results Thanks to Zumba Fitness

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MajescoMajesco announced its financial results for its full year and fiscal fourth quarter ended October 31, 2011. Essentially, Majesco is doing well again because of Zumba Fitness, and pretty much exclusively because Zumba Fitness has been selling like hotcakes. Presumably, if the same people are buying both hotcakes and Zumba Fitness, they probably aren't getting more fit.
For its fiscal fourth quarter ended October 31, 2011, Majesco announced a net loss of $3.894 million compared to a net loss of $1.529 million in the same quarter the previous year. Part of the substantial quarterly loss resulted from development costs and licensing fees for games Majesco doesn't think are going to perform well.

For the full year, Majesco announced net income of $6.832 million compared to a net loss of $972,000 the previous year. Majesco attributes the year's positive results almost entirely to the success of Zumba Fitness, the tremendous sales of which have dramatically boosted Majesco's results. Majesco plans to take advantage of that by making more Zumba Fitness games and working on other health-related titles in an effort to over-saturate the market.

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This page contains a single entry by Editor published on January 17, 2012 8:45 PM.

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