Publisher Majesco is expecting a turnaround for the business, after putting into effect a new focus on mass-market games and a more refined portfolio of products.
The company has reported increased revenue for Q4 2006, of US $21.5 million (EUR 16.6m), compared to US $4.6 million (EUR 3.5m) for the same period in 2005, and US $66.7 million (EUR 51.5m) for the full year, up from US $59.7 million (EUR 46.1m) a year ago.
In 2006, Majesco reported a loss of US $2.9 million (EUR 2.2m)for the fourth quarter ended October 31, compared to US $34.2 million (EUR 26.4m) in 2005. Full year losses were down from US $72 million (EUR 55.6m) to US $5.4 million (EUR 4.1m).
The company has been buoyed by sales of Jaws Unleashed for current-gen systems, Cooking Mama for the DS and new distribution deals with Trymedia and Valve.
"We have taken great strides to transition our business away from big-budget console games to a more balanced product portfolio comprised of mainly quality, easy-to-play, affordable games for the mass market," said Jesse Sutton, President of Majesco.
"We have transitioned away from the big budget games and dramatically decreased our development costs and operating expenses, thereby significantly reducing our loss of cash," stated John Gross, chief financial officer.
"The substantial improvements in the health of our balance sheet and the turnaround of our cash flow are encouraging signs," he added.