Majesco Q4 loss widens, shares fall
(Reuters) - Majesco Entertainment Co's fourth-quarter results came in below market expectations hurt by higher operating costs, and the video game publisher forecast a weak 2012.
Shares of the company slipped as much as 19 percent after the bell on Tuesday, after closing at $2.98 on the Nasdaq.
Majesco forecast adjusted earnings of 25 cents to 35 cents per share on revenue of $125 million to $140 million for 2012.
Analysts, on an average, are expecting full-year earnings of 46 cents per share on revenue of $141.5 million, according to Thomson Reuters I/B/E/S.
The company's fourth-quarter loss widened to $3.9 million, or 10 cents per share, from a loss of $1.5 million, or 4 cents per share, a year ago.
Excluding items, the company posted a loss of 7 cents per share.
Revenue for the quarter rose 8 percent to $25.1 million.
Analysts were expecting fourth-quarter earnings of 4 cents per share on revenue of $27 million.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Roshni Menon)
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