Zumba Fitness drives profit growth for Majesco
Publisher raises full-year guidance after string third quarter results
The success of Zumba Fitness drove revenue and profit growth in Majesco's third quarter results.
The company booked revenues of $19.5 million, up 61 per cent from $12.2 million in the same period last year. Net profit also showed a marked year-on-year improvement: $1.9 million versus a loss of $1.6 million.
For the nine months ending July 31 2011 the company's revenues were $100.2 million, a 92 per cent increase over the period ending July 31 2010.
As expected, sales growth was largely attributed to the runaway success of Zumba Fitness, which was number one in the UK for 13 weeks, and has now sold 3 million units worldwide.
Majesco has "at least" 10 products slated for release over the holiday period, including Zumba Fitness 2 and Cooking Mama 4. The company has raised its full year guidance from net revenues of $110 to $120 million, to net revenues of $120 to $130 million.