Majesco Entertainment Company (NASDAQ: COOL) may be losing its “cool” after reporting quarterly earnings for its year-end report. The video game maker saw an 8% gain in net revenues to $25.1 million, but it posted an operating loss of -$3.0 million versus -$1.3 million a year earlier. Its net loss was -$3.9 million versus a net loss of -$1.5 million in 2010 if you include charges. The basic and diluted net loss per share came to -$0.10 versus -$0.04 a year earlier.
The company is trying to focus on Zumba Fitness 2, with more than 1 million units sold worldwide and bringing the entire fitness franchise to some 6 million in global unit sales. Gross margin for the full year was 36.3 percent, well above the 24.3 percent in 2010.
For the full fiscal year 2012. Majesco sees net revenue in a range of $125 to $140 million and non-GAAP earnings per share of $0.25 to $0.35. Unfortunately, the few estimates that make up a consensus from Thomson Reuters are $0.39 EPS and $127.16 million in sales.
Shares are now down over 12% at $2.60 in the after-hours session. The 52-week trading range is $1.00 to $4.53.
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