sonycowboy
Member
Broadened exposure of Bloodrayne - LOL. What a way to put it 
. Damn those GBA Videos are selling that much. Insane
Majesco Reports Third Quarter Results; Strong Sales Drive Increase in Operating Earnings; Company Surpasses One Million Game Boy Advance Video Sell-Through
EDISON, N.J.--(BUSINESS WIRE)--Sept. 15, 2004--Majesco Holdings Inc. (OTC BB: MJSH), a leading publisher and distributor of video and interactive entertainment products, today announced results for its third quarter and nine month period ended July 31, 2004.
For the quarter, the Company reported net revenue of $33.9 million, compared to $4.0 million reported during the same period in 2003. Gross profit increased to $7.1 million for the third fiscal quarter, compared to $1.5 million in the comparable 2003 third quarter. Operating income increased to $3.1 million for the quarter, including a gain of $1.2 million from the renegotiation of a litigation settlement, versus an operating loss of $1.9 million for the same period one year ago. The increase in net revenue and gross profit is primarily due to the launch of the Game Boy(R) Advance Video titles during the quarter. Game Boy Advance Video titles accounted for 79 percent of unit sales for the quarter, and sales of games for the Game Boy Advance platform contributed an additional 15 percent of total unit sales.
For the quarter, the Company generated net income of $20.5 million, principally as a result of an $18.9 million non-cash credit related to the change in fair value of the warrants issued in connection with a private placement, compared to a net loss of $2.2 million in the third quarter last year. Excluding the non-cash gain, Majesco earned $1.7 million during the quarter, an improvement of $3.9 million from the same period last year. The Company reported net income per diluted share of $0.16 for the quarter based on 131,898,249 weighted average shares outstanding versus a loss per share of $(0.14) based on 15,325,000 weighted average shares outstanding last year.
Carl Yankowski, Majesco's new Chairman and Chief Executive Officer, commented, "This is the first quarter that truly shows the potential of our proprietary Game Boy Advance Video (GBAV) technology, with significant growth and record financial performance. Retailer data indicates sell-thru of more than one million units in just three months. This is a good indicator of the potential of this exciting new category. With the incredible popularity of Nintendo's Game Boy Advance platform enhanced by a recent price reduction to $79 and an upcoming national ad campaign surrounding our video product, we expect our GBAV products to be highly popular stocking stuffers this Holiday season."
For the nine months ended July 31, 2004, the Company reported net revenue of $75.6 million, as compared to $31.1 million in the same period during 2003. Gross profit increased to $20.0 million during the nine month period, versus $11.5 million in the comparable nine month period during 2003. For the 2004 period, operating income was $6.5 million versus a loss from operations of $1.2 million in the comparable 2003 time period.
For the nine months, the Company reported a net loss of $27.4 million, as a result of the $30.4 million non-cash charge related to the issuance of warrants in connection with a private placement, compared to a net loss of approximately $2.6 million in the prior year nine-month period. Excluding the non-cash charge, the Company would have reported net income of $2.9 million for the 2004 nine-month period. Year-to-date, the Company reported a loss per share of ($0.57) for the nine-month period based on 50,919,485 weighted average shares outstanding versus a net loss per share of ($0.17) based on 15,325,000 weighted average shares outstanding for the first nine months of 2003.
Other highlights for the quarter and immediately following the close of the quarter include:
-- The recent appointment of Carl Yankowski, former Palm, Inc. CEO and Sony Electronics President, as Majesco's Chairman and Chief Executive Officer. A highly successful senior executive with more than 30 years experience in brand management, technology and consumer products, Mr. Yankowski's work experience also includes tenures at GE, Pepsi-Cola, and P&G.
-- The addition of Marc Weisman to the Board of Directors. Currently the founder and managing partner of Sagaponack Partners, Mr. Weisman brings more than 27 years of legal, financial and transactional experience to the post, and adds another vital dimension to Majesco's Board of Directors.
-- The shipping of 10 new offerings for the Game Boy Advance Video platform including: Yu-Gi-Oh! Vol. 1; Teenage Mutant Ninja Turtles Vol. 1; The Adventures of Jimmy Neutron, Boy Genius; Strawberry Shortcake; All Grown Up; Sonic X Vol. 1; Nicktoons Collection Vol. 1; Cartoon Network Collection and Codename: Kids Next Door. Majesco also announced that it secured the exclusive Game Boy Advance Video rights to FUNimation's popular Dragon Ball GT property.
-- Expansion of the agreement with American Greetings Corporation and DIC Entertainment to publish a Strawberry Shortcake: Summertime Adventure video game.
-- Announced the addition of three new titles to the lineup of value-priced software for the Game Boy(R) Advance. F-18 Super Hornet, Monster Trucks and Texas Hold 'Em Poker are scheduled to ship this fall and will carry a suggested retail price of $19.99.
-- Shipped Cartoon Network Block Party for the Nintendo Game Boy(R) Advance. Developed by One Man Band, Cartoon Network Block Party complements Majesco's successful Cartoon Network Speedway game released earlier last year.
-- Broadened exposure of the popular BloodRayne video character in anticipation of the upcoming release of the BloodRayne 2 video game sequel. The BloodRayne video game character will be featured on a premiere episode of MTV2's new series "Video Mods," scheduled to air September 18. Additionally, Majesco announced an exclusive worldwide agreement to publish BloodRayne as a series of original, full-color, one-shot comic books. Separately, Boll KG and Brightlight Pictures announced the signing of key cast members for the BloodRayne movie scheduled for 2005 including: Kristanna Loken (best known for her role opposite Arnold Schwarzenegger in T3: Rise of the Machines) to star as BloodRayne; Oscar winner Sir Ben Kingsley as BloodRayne's father and arch-nemesis, Kagan; as well as Michelle Rodriguez, Matt Davis and Michael Madsen.
-- Obtained interactive entertainment rights to Jaws, one of the most enduring action-suspense films of all time, from Universal Pictures and Steven Spielberg. Developed by Appaloosa, the video game is scheduled to ship summer 2005 to coincide with the 30th anniversary of the film's theatrical release.
-- Acquired worldwide publishing rights to Psychonauts, a sought-after new video game being developed by Double Fine Productions, Inc. Already heralded as one of the most original titles in development, Psychonauts will be available next year for the Xbox(R) video game system from Microsoft and the personal computer.
-- Signed a licensing agreement with Konami to publish TV Arcade video game systems based on Konami's popular Frogger and Konami Arcade Classics video games that will be available at retail this fall.
Mr. Yankowski continued, "Morris Sutton and the entire Majesco team have built the foundation for a more diversified company - a growing portfolio of video games, unique accessory products and the creation of a new software category which leverages the Nintendo's Game Boy Advance installed base of more than 30 million units. There is continued interest for this new GBAV medium from leading studios, networks, publishers and retailers, and we intend to build upon this momentum by adding feature length content to our line up shortly. We look forward to a solid upcoming release of BloodRayne 2 in a crowded market, as well as the launch of our line of TV Arcade games and unique wireless accessories, Wireless Messenger and Wireless Link, for the Game Boy Advance. All of this will contribute to a stronger and more diversified total Majesco product mix in the next fiscal year, as we enter our next growth phase."
About Majesco's Game Boy Advance Video Technology
Majesco's new video compression technology presently allows viewing of approximately 45 minutes of quality color video with the capability to view 90 minutes of color video under development. The technology fits in a standard Nintendo-manufactured, Game Boy Advance cartridge and incorporates standard 'DVD-style' player controls. The technology features color video across 100 percent of the screen.
. Damn those GBA Videos are selling that much. Insane Majesco Reports Third Quarter Results; Strong Sales Drive Increase in Operating Earnings; Company Surpasses One Million Game Boy Advance Video Sell-Through
EDISON, N.J.--(BUSINESS WIRE)--Sept. 15, 2004--Majesco Holdings Inc. (OTC BB: MJSH), a leading publisher and distributor of video and interactive entertainment products, today announced results for its third quarter and nine month period ended July 31, 2004.
For the quarter, the Company reported net revenue of $33.9 million, compared to $4.0 million reported during the same period in 2003. Gross profit increased to $7.1 million for the third fiscal quarter, compared to $1.5 million in the comparable 2003 third quarter. Operating income increased to $3.1 million for the quarter, including a gain of $1.2 million from the renegotiation of a litigation settlement, versus an operating loss of $1.9 million for the same period one year ago. The increase in net revenue and gross profit is primarily due to the launch of the Game Boy(R) Advance Video titles during the quarter. Game Boy Advance Video titles accounted for 79 percent of unit sales for the quarter, and sales of games for the Game Boy Advance platform contributed an additional 15 percent of total unit sales.
For the quarter, the Company generated net income of $20.5 million, principally as a result of an $18.9 million non-cash credit related to the change in fair value of the warrants issued in connection with a private placement, compared to a net loss of $2.2 million in the third quarter last year. Excluding the non-cash gain, Majesco earned $1.7 million during the quarter, an improvement of $3.9 million from the same period last year. The Company reported net income per diluted share of $0.16 for the quarter based on 131,898,249 weighted average shares outstanding versus a loss per share of $(0.14) based on 15,325,000 weighted average shares outstanding last year.
Carl Yankowski, Majesco's new Chairman and Chief Executive Officer, commented, "This is the first quarter that truly shows the potential of our proprietary Game Boy Advance Video (GBAV) technology, with significant growth and record financial performance. Retailer data indicates sell-thru of more than one million units in just three months. This is a good indicator of the potential of this exciting new category. With the incredible popularity of Nintendo's Game Boy Advance platform enhanced by a recent price reduction to $79 and an upcoming national ad campaign surrounding our video product, we expect our GBAV products to be highly popular stocking stuffers this Holiday season."
For the nine months ended July 31, 2004, the Company reported net revenue of $75.6 million, as compared to $31.1 million in the same period during 2003. Gross profit increased to $20.0 million during the nine month period, versus $11.5 million in the comparable nine month period during 2003. For the 2004 period, operating income was $6.5 million versus a loss from operations of $1.2 million in the comparable 2003 time period.
For the nine months, the Company reported a net loss of $27.4 million, as a result of the $30.4 million non-cash charge related to the issuance of warrants in connection with a private placement, compared to a net loss of approximately $2.6 million in the prior year nine-month period. Excluding the non-cash charge, the Company would have reported net income of $2.9 million for the 2004 nine-month period. Year-to-date, the Company reported a loss per share of ($0.57) for the nine-month period based on 50,919,485 weighted average shares outstanding versus a net loss per share of ($0.17) based on 15,325,000 weighted average shares outstanding for the first nine months of 2003.
Other highlights for the quarter and immediately following the close of the quarter include:
-- The recent appointment of Carl Yankowski, former Palm, Inc. CEO and Sony Electronics President, as Majesco's Chairman and Chief Executive Officer. A highly successful senior executive with more than 30 years experience in brand management, technology and consumer products, Mr. Yankowski's work experience also includes tenures at GE, Pepsi-Cola, and P&G.
-- The addition of Marc Weisman to the Board of Directors. Currently the founder and managing partner of Sagaponack Partners, Mr. Weisman brings more than 27 years of legal, financial and transactional experience to the post, and adds another vital dimension to Majesco's Board of Directors.
-- The shipping of 10 new offerings for the Game Boy Advance Video platform including: Yu-Gi-Oh! Vol. 1; Teenage Mutant Ninja Turtles Vol. 1; The Adventures of Jimmy Neutron, Boy Genius; Strawberry Shortcake; All Grown Up; Sonic X Vol. 1; Nicktoons Collection Vol. 1; Cartoon Network Collection and Codename: Kids Next Door. Majesco also announced that it secured the exclusive Game Boy Advance Video rights to FUNimation's popular Dragon Ball GT property.
-- Expansion of the agreement with American Greetings Corporation and DIC Entertainment to publish a Strawberry Shortcake: Summertime Adventure video game.
-- Announced the addition of three new titles to the lineup of value-priced software for the Game Boy(R) Advance. F-18 Super Hornet, Monster Trucks and Texas Hold 'Em Poker are scheduled to ship this fall and will carry a suggested retail price of $19.99.
-- Shipped Cartoon Network Block Party for the Nintendo Game Boy(R) Advance. Developed by One Man Band, Cartoon Network Block Party complements Majesco's successful Cartoon Network Speedway game released earlier last year.
-- Broadened exposure of the popular BloodRayne video character in anticipation of the upcoming release of the BloodRayne 2 video game sequel. The BloodRayne video game character will be featured on a premiere episode of MTV2's new series "Video Mods," scheduled to air September 18. Additionally, Majesco announced an exclusive worldwide agreement to publish BloodRayne as a series of original, full-color, one-shot comic books. Separately, Boll KG and Brightlight Pictures announced the signing of key cast members for the BloodRayne movie scheduled for 2005 including: Kristanna Loken (best known for her role opposite Arnold Schwarzenegger in T3: Rise of the Machines) to star as BloodRayne; Oscar winner Sir Ben Kingsley as BloodRayne's father and arch-nemesis, Kagan; as well as Michelle Rodriguez, Matt Davis and Michael Madsen.
-- Obtained interactive entertainment rights to Jaws, one of the most enduring action-suspense films of all time, from Universal Pictures and Steven Spielberg. Developed by Appaloosa, the video game is scheduled to ship summer 2005 to coincide with the 30th anniversary of the film's theatrical release.
-- Acquired worldwide publishing rights to Psychonauts, a sought-after new video game being developed by Double Fine Productions, Inc. Already heralded as one of the most original titles in development, Psychonauts will be available next year for the Xbox(R) video game system from Microsoft and the personal computer.
-- Signed a licensing agreement with Konami to publish TV Arcade video game systems based on Konami's popular Frogger and Konami Arcade Classics video games that will be available at retail this fall.
Mr. Yankowski continued, "Morris Sutton and the entire Majesco team have built the foundation for a more diversified company - a growing portfolio of video games, unique accessory products and the creation of a new software category which leverages the Nintendo's Game Boy Advance installed base of more than 30 million units. There is continued interest for this new GBAV medium from leading studios, networks, publishers and retailers, and we intend to build upon this momentum by adding feature length content to our line up shortly. We look forward to a solid upcoming release of BloodRayne 2 in a crowded market, as well as the launch of our line of TV Arcade games and unique wireless accessories, Wireless Messenger and Wireless Link, for the Game Boy Advance. All of this will contribute to a stronger and more diversified total Majesco product mix in the next fiscal year, as we enter our next growth phase."
About Majesco's Game Boy Advance Video Technology
Majesco's new video compression technology presently allows viewing of approximately 45 minutes of quality color video with the capability to view 90 minutes of color video under development. The technology fits in a standard Nintendo-manufactured, Game Boy Advance cartridge and incorporates standard 'DVD-style' player controls. The technology features color video across 100 percent of the screen.