Majesco (COOL)

Thursday News Bytes: Majesco Makes a Grand Showing, DS Reaches Milestone and More!

On stage tonight, we have a rising star in the making. Or should I say a “down and out” that has turned its fortunes around? Majesco, for the 3rd quarter in a row, has reported a positive net income. In fact, not only did they report a positive net income but they also increased their guidance for fiscal 2009.

A couple of years ago, CEO Jesse Sutton made a plan to turn this company around. Majesco shifted their focus to the Wii, DS and the casual game market, cut costs and stuck to it. Yes, Mr. Sutton had a few mishaps in the past but when things are going good, you tend to forget about those other things..right? Of all of the video game CEO’s making a hefty amount of dough every year, Mr. Sutton is one, who deserves it. While a bunch of companies including some major video game companies are losing money, Mr. Sutton and Majesco are making it. Take a bow, Majesco.

News Bytes for Thursday, March 12:

• Majesco reported a net revenue of $32.8 million for Quarter 1 2009, a 75% increase over Q1 2008. Net income increased 54% to $4.2 million which comes out to be …$.15 per share….
• Move over Cooking Mama, there is a new hit in the house. Majesco reported that Jillian Michael’s for the Wii sold over 500,000 copies. And if that doesn’t excite Majesco investor’s, maybe the list of games Majesco has yet to release in 2009 will. Titles will include: Gardening Mama, Major Minor’s Majestic March (from the creative team that brought you Parappa the Rapper), Marker Man Adventures and Our House…
• In other news, it is now known that Nintendo has shipped 100,000,000 DS’s. The only other consoles to reach that mark was the Gameboy, Playstation and the PS2…

Tags: COOL, Majesco (COOL), Nintendo (NTDOY)