Majesco's Q1 Sees Slower Sales, Continued Declining Losses

Publisher Majesco today announced the results for its 2007 first quarter, with sales down from $21.6 to $14.5 mil year over year due to its shift away from premium titles, but losses cut from $2.6 mil in 2006 to $926,000.

For the three months ended January 31st, Majesco's sales were down $7.1 million from those in January of 2006, which the company attributed to its much discussed focus away from premium console titles to mass-market budget games. $9 million of the 2006 sales, the company said, came precisely from those higher priced games.

To illustrate the point, company officials noted that in 99 percent of its first quarter results came from budget mass-market titles such as the DS' Cooking Mama, and only 1 percent from its legacy premium titles, compared to 18 and 82 the year prior, respectively.

Though the company still remains in an operating loss, the total loss for Q1 2007 was $926,000, over half the $2.6 million in losses the company incurred in the first quarter of 2006.

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