Majesco Reports Improved Financial Results for 2008 Fiscal Year

For the quarter, Majesco reported a net loss of $0.9 million compared to a net loss of $1.0 million in the same quarter the previous year. For the year, Majesco reported net income of $2.1 million compared to a net loss of $4.8 million in the prior year.

Majesco's leadership declared that the company's transition from losing money to making money indicates that its new focus on cheap, casual games is successful. Majesco reported large losses in years past when games like Advent Rising failed to perform.