Majesco in the green thanks to Cooking Mama, good profits in 2008 |
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Wedbush Morgan analyst Michael Pachter has crunched some numbers in the direction of Majesco Entertainment and has predicted positive profits for the company in its coming 2008 fiscal year.Majesco owes a good deal of its recent success to the sales of its Cooking Mama (Wii, DS) series The company is expected to see up to US$ 14 million in sales for the game by the closing of its fourth quarterly fiscal year this January 14.
Pachter also mentions that Majesco is mostly on par with its earnings the previous year, according to the sales reports from the NPD Group. Despite the fact that forecasts seem good for Majesco, Pachter still cautioned the company's management to keep an eye out for the coming fiscal year.
He gave out rather positive comments for the company regarding its renewed profitability in the coming year. Pachter was quoted as saying:
We continue to believe that the company can be profitable at US$ 65 - 70 million in annual revenues, and that, more important, it is taking the appropriate steps to reach that threshold.
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