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Majesco doubting 'ability to continue' following layoffs

Mike Suszek, @mikesuszek
November 17, 2014
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Majesco has fallen on hard times, as the Cooking Mama publisher "implemented a reduction of our workforce to reduce our fixed costs," according to recent SEC filings. The company's layoffs came at the very end of October, just after its independent label Midnight City launched Costume Quest 2 on PS3 and PS4. The publisher reported a net loss of $2.7 million in September for the quarter ending July 31 as well as a net revenue of $2.9 million, a 27.2 percent drop year-over year.

When pointing to the earnings report in a November 6 filing, Majesco said it "suffered losses that raise substantial doubt about our ability to continue as a going concern." Likewise, Majesco is "currently not developing any significant new games for release in fiscal 2015," a period that ends on October 31, 2015. The three games slated to launch during that time are Hello Kitty and Sanrio Friends 3D Racing for 3DS, Gone Home's console port courtesy of Midnight City and Shadows: Heretic Kingdoms for PC, which is currently available in early access form on Steam.
[Image: Majesco]



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