Majesco reports $6.6 million loss for 2009
Majesco has just released the financial data for its fiscal 2009, which ended October 31, 2009. The company posted revenues of $23.9 million in the three months ending October 31, 2009, a significant increase over the $18 million in revenue during the same period in 2008. Still, Majesco didn't manage to post actual profits, instead posting a loss of $5.5 million in the fourth quarter, compared to a $0.4 million income during the same period in 2008.
Looking Majesco's entire fiscal 2009, the company reported revenues of $94.5 million, which it claims is a 47.8 percent increase over 2008. Again, though, Majesco reports an overall operating loss for the year, amounting to $6.6 million. This is compared to an operating income of $2.8 million in 2008. The publisher cites "the Cooking Mama franchise, Jillian Michaels' titles and strong distribution revenue" for pushing its "top line," but blames a retail market "especially hard on non-branded and new IP titles" for its losses.
Majesco's major goal for 2010 is profitability, which the company will pursue by cutting costs, releasing "fewer, but stronger titles" and, of course, "leveraging" the Cooking Mama franchise.
