Pachter: Majesco has mixed but positive Q4 results - expectations raised

Wedbush Morgan's Michael Pachter has just issued a note detailing and commenting on Majesco's financial results for Q4 2008.

"The company feels the results were mixed but generally positive," says the research note.

"Majesco provided initial FY:09 guidance for revenue 'in excess' of $70 million and for positive operating income and now Wedbush Morgan is raising its finacial year 2009 estimates for revenue to $72 million from $70 million, and for EPS to $0.11 from $0.10."

Pachter said that Wedbush "continues to believe that Majesco can deliver sustainable profits, so long as it is able to grow revenues."

Last year, Cooking Mama made the company $2.7 million which was more than enough for Majesco feel that a second helping was warranted.

By Mike Bowden