Majesco Entertainment Company Reports Q1 EPS of $0.20 vs. $0.11

Majesco Entertainment Company COOL, an innovative provider of video games for the mass market, today reported financial results for the first quarter ended January 31, 2011.

For the first quarter ended January 31, 2011, Majesco's net revenues were $48.5 million versus $29.2 million in the same period a year ago. During this same period, the Company reported operating income of $8.0 million, compared to operating income of $2.5 million in the first quarter of 2010. Non-GAAP operating income was $8.3 million versus non-GAAP operating income of $3.5 million in 2010. Net income for the quarter was $6.8 million versus net income of $3.8 million in 2010. On a non-GAAP basis, net income for the quarter was $7.5 million compared to non-GAAP net income of $2.9 million last year.

The Company's basic and diluted net income per share for the quarter ended January 31, 2011 was $0.18, compared to basic and diluted net income per share of $0.10 in the same period last year. Non-GAAP basic and diluted net income per share was $0.20 compared to net income per share of $0.08 last year.