Majesco Results See Profit, Revenue Increase

Officials from U.S.-based publisher Majesco have announced the company’s financial results for the second quarter ended April 30th, a positive one for the aggressively expanding firm, which recently raised $60.5 in a public stock offering. During the period, the revenues of the Psychonauts publisher rose 17 percent to $19.9 million, from $17 million at the same time last year. Net profits rose to $189,000 for the quarter, a gigantic change from a loss of $50.1 million (largely due to a one-time charge regarding financing) in the same 2004 quarter. Gross profit for the quarter also rose to $8.4 million, compared to $5.4 million previously, while gross margins increased to 42.4 percent. The company has attributed these record results to the release of the critically acclaimed Psychonauts for Xbox and PC, and continued strong sales of both its 'two-in-one' Game Boy Advance bundles, and the TV Arcade series of all-in-one 'TV games'. The results follow an encouraging set of first quarter results for the company, which seem to show that the publisher’s blending of multiple revenue streams and focus on a smaller number of high quality console products is paying dividends. The company reiterated its fiscal 2005 forecast to show a profit of $16 million to $18 million on revenue of $175 million to $185 million, and also referenced its leading game products for the rest of the year, including sci-fi action title Advent Rising, already released and showing somewhat mixed reviews, shark action-er Jaws Unleashed, movie tie-in Aeon Flux, next-gen comic license The Darkness, and Taxi Driver.