Majesco gains in Q2 but….

Publisher Majesco reveals that sales have improved in the second quarter of fiscal year 2007 as Nintendo Wii games Bust a Move and the popular Cooking Mama: Cook Off have capitalized on the console’s market and have continued to sell well.

The earning rose from US$ 11 million in the initial quarter to US$ 14.6 million in the second quarter. New releases account for 84 percent of the sales in the new quarter while the remaining minority are catalog games. Of all the games sold, some 55 percent are Wii games while 37 percent were built for handhelds.

However, not all is well in the Majesco yard. The company explains that a class lawsuit which cost the company US$ 2.5 million has hurt them, causing a total loss of US$ 1.3 million.

The company expects a slight drop in the revenues in the next two quarters but says will compensate for it by boosting international distribution. Majesco has forged a partnership with Eidos Interactive and the move should boost sales and provide a cushion for the second half.

“We look forward to putting this situation behind us and we believe that the settlement, if consummated, will have no effect on the companyÂ’s ongoing operations,” says Jesse Sutton, Majesco’s interim CEO.

Publisher Majesco reveals that sales have improved in the second quarter of fiscal year 2007 as Nintendo Wii games Bust a Move and the popular Cooking Mama: Cook Off have capitalized on the console’s market and have continued to sell well.

The earning rose from US$ 11 million in the initial quarter to US$ 14.6 million in the second quarter. New releases account for 84 percent of the sales in the new quarter while the remaining minority are catalog games. Of all the games sold, some 55 percent are Wii games while 37 percent were built for handhelds.

However, not all is well in the Majesco yard. The company explains that a class lawsuit which cost the company US$ 2.5 million has hurt them, causing a total loss of US$ 1.3 million.

The company expects a slight drop in the revenues in the next two quarters but says will compensate for it by boosting international distribution. Majesco has forged a partnership with Eidos Interactive and the move should boost sales and provide a cushion for the second half.

“We look forward to putting this situation behind us and we believe that the settlement, if consummated, will have no effect on the companyÂ’s ongoing operations,” says Jesse Sutton, Majesco’s interim CEO.