Zumba Fitness fuels Majesco growth for fourth consecutive quarter
For its fourth fiscal quarter ended October 31, the company's revenues rose 8 percent from $23.4 million to $25.1 million. During that period, the company posted an operating loss of $2.7 million, down from a loss of $1.5 million last year.
For all of fiscal 2011, results were much brighter, with revenues reaching $125.3 million, a full 66 percent increase from the $75.6 million posted for fiscal 2010. Profits for 2011 hit $11.4 million, up from a loss of $2.1 million year-over-year.
Once again, the company's growth was driven by the Zumba Fitness series, which debuted in November 2010, and has now sold more than 6 million units worldwide.
"In [fiscal] 2011, we experienced the successful launch of a brand new franchise for Majesco; Zumba Fitness has quickly become the fastest selling title in the company's history and the world's number one fitness title of 2011," said Majesco CEO Jesse Sutton.
In light of its recent earnings, Majesco updated its fiscal 2012 revenue guidance to a range of $125 to $140 million -- a very distinct change from its initial revenue guidance for fiscal 2011, which fell in between $85 to $90 million.
For the the current first quarter of fiscal 2012, Majesco's games lineup includes Zumba Fitness 2, Twister Mania!, Cooking Mama 4: Kitchen Magic, licensed titles based on Jaws and Alvin and the Chipmunks, and more.
Looking into the rest of the year, Majesco's release calendar looks sparse, with just Zumba Fitness Rush on the horizon. The company said that it plans to reveal the rest of its 2012 catalog in the coming months.
Adding to the company's plans for 2012, Sutton said that Majesco plans to further expand its digital initiatives, which will be driven by titles from the publisher's recently acquired social game studio Quick Hit.