Zumba fitness game publisher, Majesco Entertainment took a beating on the stock market today. The stock plummeted 34$ to $0.69 a share and announced that it would no longer provide quantitative financial data in its reports moving forward. The company responded to reports by saying:
As a result of the weakness in demand for products on legacy console platforms and uncertainty around consumer adoption of the next-generation of consoles, management is modifying its practice of providing quantitative fiscal year revenue and earnings guidance. Instead, for fiscal 2013, management is presenting a qualitative assessment of its outlook for financial results.[/gn_quote]
Majesco also confirmed that they will be closing their Boston location and be thinning out their workforce at their QA facility. All this while the company posted a profit for the quarter.
