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."
By Mike Bowden