Zumba Fitness Fuels Growth In Majesco's Q2 Earnings

Majesco revealed a significant boost in revenue for its second fiscal quarter, attributing most of its growth to the success of the popular Zumba Fitness franchise. The company said that its non-GAAP income for the quarter ended April 30 reached $5.4 million, up from a non-GAAP net loss of 1.2 million at the same time last year. On a GAAP basis, the company's net revenue hit $32.1 million, a $21.2 million increase from one year ago. Majesco says that its Zumba Fitness series has been the largest contributing factor to the company's increase in revenue, thanks to its popularity as well as its high price point compared to Majesco's Wii and DS titles in 2010. In addition, the company also announced that the Zumba Fitness games have now surpassed 2 million sales worldwide. "We experienced another strong quarter, driven by the phenomenal success of Zumba Fitness. Zumba Fitness continues to sell well, nearly seven months after its launch, and is also off to a great start in Europe. The franchise has now sold over 2 million units worldwide, and is a clear leader in the dance-fitness category," said Majesco CEO Jesse Sutton. Sutton also said that the company plans to move further into the digital and social game space. As part of this strategy, the company acquired a number of developers from social game developer Quick Hit, including company CEO Jeff Anderson.