Year-on-year declines at Majesco

US publisher Majesco has reported net revenues of $29.2m for its first quarter ending January 31st – down from the $32.8m seen in the same period in 2009.

Operating income hit $2.5m in the period compared to the $3.7m reported last year. Net income fell from $4.2m to $3.8m.

The publisher describes the performance, which was in-line with predictions, as ‘solid’, citing tough year-on-year comparisons thanks to the 2009 success of its Jillian Michaels’ Wii fitness title.

Majesco had a very solid first quarter driven by strong holiday sales of our Cooking Mama franchise, which once again delivered impressive results, and Alvin & The Chipmunks: The Squeakquel,” CEO Jesse Sutton stated.

Our results were in-line with our internal expectations and we remain on track to deliver improved profitability for 2010. We have made significant progress in fine-tuning our strategy to meet the challenges of the current operating environment. We continue to focus our resources on our best opportunities and our costs remain under control. We are committed to improving our profitability and building long-term value for our shareholders.”

The company now forecasts net full-year revenue of approximately $80m, with a sizable 62 per cent of that deriving from its upcoming DS catalogue and 31 per cent form its Wii output.

It intends to release 37 titles in the period including Data East Arcade Classics (Wii), Pizza Delivery Boy (Wii), Dance Sensation (Wii), 3D outing Attack of the Movies (Wii and Xbox 360), Ghostwire: Link to the Paranormal (DSi), Zumba Fitness (TBC), Greg Hastings Paintball 2 (Xbox 360, PS3, Wii) and Crafting Mama (DS).