Majesco Entertainment announced that it has raised approximately USD 6 million in a private investment in public equity offering to several institutional investors
Following Majesco's announcement yesterday that it was to publish Cooking Mama 2: Dinner with Friends in North America, analyst Todd Greenwald has reiterated his buy stock recommendation.
Publisher Majesco recently announced financial results for its second quarter, which show sales up from USD 11 to 14.6 million--over half of which came from two Wii titles: Cooking Mama: Cook Off and Bust a Move Bash.
Majesco has managed to trim it's losses for the first quarter of the financial year, although sales were down due the shift away from publishing big budget titles.
Publisher Majesco is expecting a turnaround for the business, after putting into effect a new focus on mass-market games and a more refined portfolio of products.
Matt Martin
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