The vidgame industry may have suffered a bit in 2009, but Edison, New Jersey-based Majesco Entertainment wouldn’t know it, thanks to revenue increases in its fourth quarter and year-end performance.
For Q4 ending October 31, 2009, the gameco’s net revenues jumped 32.8% to US$23.9 million versus US$18.0 million in the same period in 2008. Meanwhile, for the 12 months ending on the same date, Majesco’s net revenues saw a healthy 47.8% increase to US$94.5 million, compared to the same period a year ago. US net revenues for the year were up 56% to US$90.4 million, while international sales saw a slight dip of US$1.9 million, down 32% from the previous year.
Net sales for Nintendo Wii titles also experienced an uptick of US$2.3 million, 24.5% to US$11.6 million for Q4, while DS sales for the same period had a healthy 43.5% increase from US$8.4 million to US$12.0 million.
CEO Jesse Sutton comments on the company exceeding its revenue guidance, with its top line driven by its popular Cooking Mama franchise, even though it saw soft retail performance with new IP titles in Q4. The company has reviewed its 2010 slate and cancelled or took impairment charges against a number of titles planned for release this year, primarily for the Wii.
Majesco’s product focus will include leveraging its success with the Cooking Mama franchise, after experiencing a good performance with its third title on the DS, released this past holiday season. The company will continue exploring ways of expanding Mama through new media channels.