Majesco's Troubles Continue As Finances Worsen

Majesco's Troubles Continue As Finances Worsen

Majesco logo

Majesco's net revenues for the quarter are down 56 percent compared to last year, but the CEO says that everything is going exactly as planned.

Okay, maybe "exactly as planned" is a bit optimistic, but Majesco CEO Jesse Sutton is certainly doing his best to spin bad news into something positive. The company reported net revenues of $4 million for the quarter ended July 31, down 56 percent from the $9.1 million it earned in the same quarter last year. That amounted to an operating loss of $3.6 million, which at least was no worse than the $3.6 million operating loss in the third quarter of the previous year; the net loss was also $3.6 million, compared to $3.1 million in FY2012.

For the first three quarters of the 2013 fiscal year, net revenues hit $37.2 million, down 65 percent from the $105.7 million earned over the same period in FY2012. The net loss for the period was $8.1 million, compared to a net income of $7.3 million for the first nine months of the previous year.

Despite the gloomy news, Sutton did his best to sound upbeat. "Consistent with the first half of 2013, our third quarter results reflect the ongoing industry transition to next generation console gaming," he said in a statement. "We believe that our holiday release slate, which is focused on high-profile branded games based on popular characters or franchises, is the right approach for the current environment. We are excited about our releases based on Phineas and Ferb, Agent P Doofendash, Barbie and others as well as the evolution of our Zumba franchise that includes the upcoming Zumba Kids and Zumba Fitness World Party releases and the well-received Zumba Dance, the first ever motion-based fitness experience for mobile tablets, which launched in July."

Majesco announced in August that it was moving into the online casino business with a 50 percent stake in GMS Entertainment, which Sutton said at the time "allows us to participate in a rapidly growing market segment and position the company for longer term growth as more jurisdictions move to legalize real money online gaming." The company was also recently given another 180 days to get its stock price above $1 to avoid being delisted from the Nasdaq.

Source: Majesco

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...Who the hell is Majesco?
What other games did they make?

I'm pretty surprised they still exist. Isn't it a zombie company, like Atari?

That title could probably use an edit, as I'm reasonably sure "contine" is not a word.

That aside, I'll be sad to see Majesco go. They brought me some good times over the years.

If I remember correctly, wasn't Masjesco's biggest success the little lamp that plugged into your Game Boy Color? I remember it being a big thing back before backlit screens became the norm.

Diablo1099:
...Who the hell is Majesco?
What other games did they make?

Well uh... lesse... The published Cooking mama! Oh, and Psychonauts...! Then... a lot more "mamas", some jillian michael things... zumba... yadda yadda.. nothing all that interestin-wait...

And... Pet Zombies in 3D...? Why in the seven hells haven't I heard of THIS before?! I can have zombies as pets! You'd think people would of mentioned something about the game, if not just the concept alone!

cursedseishi:

Diablo1099:
...Who the hell is Majesco?
What other games did they make?

Well uh... lesse... The published Cooking mama! Oh, and Psychonauts...! Then... a lot more "mamas", some jillian michael things... zumba... yadda yadda.. nothing all that interestin-wait...

And... Pet Zombies in 3D...? Why in the seven hells haven't I heard of THIS before?! I can have zombies as pets! You'd think people would of mentioned something about the game, if not just the concept alone!

...Psychonauts? Really?....Huh....
Just never heard of them before this news story.

I contined once. It wasn't fun. Anyway, I don't think I've played any games by Majesco, but I've definitely heard about them.

But man, Barbie and Zumba? I wish I had known about these games sooner!

I hope they completely dissolve and are forced to sell back the Advent Rising IP back to the Mustard Brothers so we can get a proper sequel.

Yes, I'm going to be THAT guy.

Also, they still own Bloodrayne.

Majesco's been around for ages but it's always been a bit player. Check out the Wikipedia entry:

http://en.wikipedia.org/wiki/Majesco

It's actually kind of impressive that a company connected with that many titles could still be so relatively unknown.

Andy Chalk:
Majesco's been around for ages but it's always been a bit player. Check out the Wikipedia entry:

http://en.wikipedia.org/wiki/Majesco

It's actually kind of impressive that a company connected with that many titles could still be so relatively unknown.

Not when so many of them are competently forgettable.

Ah Majesco a company that made lots of money being a shovelware developer for the Wii (60% of there revenue is from the Wii alone), which is now dead as is it's successor and thankfully it seems Majesco is along for the ride.

cursedseishi:

Diablo1099:
...Who the hell is Majesco?
What other games did they make?

Well uh... lesse... The published Cooking mama! Oh, and Psychonauts...! Then... a lot more "mamas", some jillian michael things... zumba... yadda yadda.. nothing all that interestin-wait...

And... Pet Zombies in 3D...? Why in the seven hells haven't I heard of THIS before?! I can have zombies as pets! You'd think people would of mentioned something about the game, if not just the concept alone!

Diablo1099:

cursedseishi:

Diablo1099:
...Who the hell is Majesco?
What other games did they make?

Well uh... lesse... The published Cooking mama! Oh, and Psychonauts...! Then... a lot more "mamas", some jillian michael things... zumba... yadda yadda.. nothing all that interestin-wait...

And... Pet Zombies in 3D...? Why in the seven hells haven't I heard of THIS before?! I can have zombies as pets! You'd think people would of mentioned something about the game, if not just the concept alone!

...Psychonauts? Really?....Huh....
Just never heard of them before this news story.

They published Psychonauts, they had nothing to do with its development otherwise. That was Tim Schafer and Double Fine. And I've barely heard of Advent Rising before now. So basically, they make/made shovelware and crap Barbie games, not much else. It's a shame to see a company in trouble, but really I doubt the video game industry is going to miss them in any way if they do go under...

Online casinos? You couldn't leave the business with some shred of dignity or integrity intact?

Sounds like it's time to buy a plot next to THQ, guys. Them, at least, I was kind of sorry to see go.

i don't think they should really be trying to bank on zumba when i see those in the bargain bin all the time

weirdguy:
i don't think they should really be trying to bank on zumba when i see those in the bargain bin all the time

Well, I commend them for at least trying to stay out of f2p.

I can't wait for Psychonauts to go on the auction block! Hopefully a Schaefer kickstarter can raise the money to buy the rights back.

Gennadios:

weirdguy:
i don't think they should really be trying to bank on zumba when i see those in the bargain bin all the time

Well, I commend them for at least trying to stay out of f2p.

I can't wait for Psychonauts to go on the auction block! Hopefully a Schaefer kickstarter can raise the money to buy the rights back.

Schaefer already owns the rights, he just wants/needs 10 million to get the sequel into production.

 

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