Majesco Entertainment Company today announced the results for the company's fiscal fourth quarter and full year ended October 31, 2008. The publisher reported Q4 revenues of $18.0 million, up over 50 percent compared to the same time in 2007. Majesco also posted a Q4 net loss of $0.9 million (or $0.03 per share) compared to a net loss of $1.0 million (or $0.04 per share) last year.

"Our strong financial performance in 2008 reflects the successful execution of our plan and confirms we're on the right path," said Jesse Sutton, CEO of Majesco Entertainment. "For the year we exceeded our updated guidance on revenue, and achieved profitability. Revenue for the full year increased over 25 percent to $63.9 million. Our combined Wii and DS business, which is at the heart of our strategy, was up 86 percent for the quarter, and 64 percent for the year when compared to 2007. As we grow our business, we are increasingly converting our revenue growth into bottom-line returns allowing us to achieve profitability ahead of schedule. For the full year, operating income was $1.5 million and net income was $2.1 million. Our progress in driving profitability reflects our operating discipline, improved product selection, and focused effort towards bringing reasonably priced product to mass market consumers."

Highlights for the year include the Cooking Mama franchise, Jillian Michaels' Fitness Ultimatum, Wild Earth and Wonder World. "We expect to further build on our success in 2009," Sutton added. "We believe we are well positioned to benefit from consumer trends given our focus on the fastest growing segment of the gaming industry. We have a proven and disciplined business model and a management team that is committed to growing the company in a profitable manner."