Majesco Entertainment Company Reports Q4 EPS $(0.04)

Majesco Entertainment Company COOL today reported financial results for the fourth quarter and full year ended October 31, 2010. For the fourth quarter ended October 31, 2010, Majesco's net revenues decreased 2.2 percent to $23.4 million versus $23.9 million in the same period a year ago. During this same period, the Company reported an operating loss of $1.3 million, compared to an operating loss of $5.5 million in the fourth quarter of 2009. Non-GAAP operating loss was $1.2 million versus non-GAAP operating loss of $5.0 million in 2009. Net loss for the quarter was $1.5 million versus net loss of $4.5 million in 2009. On a non-GAAP basis, net loss for the quarter was $1.5 million compared to non-GAAP net loss of $5.4 million last year. The Company's basic and diluted net loss per share for the quarter ended October 31, 2010 was $0.04 compared to net loss per basic and diluted share of $0.14 in the same period last year. Non-GAAP diluted net loss per share was $0.04 compared to a net loss per share of $0.16 last year.