Majesco Entertainment has published its financial report for the fourth quarter and full fiscal year 2013, detailing its strategy for renewed growth in 2014.
Majesco’s net revenue was $10.1 million for the fourth quarter, which ended October 31st 2013. That’s a drop of 62% on the same period last year. A similar drop of 64% was reported for the full year: $47.3 million, down from $132.3 million the previous year.
A statement from the company says the decline was to be expected, attributing it to the transition to the new console generation. “The casual game market has fragmented as new digital platforms have gained popularity, causing disruption and opportunity for Majesco,” said CEO Jesse Sutton.
While Majesco will continue to support and promote its Zumba games currently on the market, it currently has no plans to “enter into a fixed long-term agreement for new sequels.”
“We will evaluate plans for future motion sensing games on next generation platforms as we gain more visibility in the market and see the installed base grow,” said Sutton. Majesco declined to provide a fiscal outlook for 2014, and will release details of its software lineup for the year over the coming months.