UPDATE: Majesco Entertainment Posts 30% Surge In FQ2 Profit, Lowers Full-Year Forecast

Majesco Entertainment Co COOL reported a 30% rise in its fiscal second-quarter earnings. The company also cut its full-year earnings forecast by $0.05 per share. It now expects earnings of $0.20 to $0.30 per share Majesco Entertainment's quarterly profit rose to $2.7 million, or $0.07 per share, versus $2.1 million, or $0.05 per share, in the year-ago period. Its revenue fell 5.4% to $30.4 million. Analysts were expecting a profit of $0.08 per share on revenue of $30 million. Majesco Entertainment's gross margin declined to 40% from 42.5%. Majesco Entertainment shares closed at $1.89 yesterday.