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Majesco Holdings Inc. has released financial results from the second quarter of its current fiscal year.
In the three-months ended April 30, 2004, the company had net revenue of $17.0 million, a 24.0 percent jump from the prior year’s $13.7 million. Majesco reported a net loss of $49.0 million ($1.19 per share), versus a net loss of $200,000 one year earlier. The quarter’s net loss was due to a $49.2 million non-cash charge “related to the issuance of warrants in connection with our recently completed private placement.”
Six-month results saw Majesco with revenues of $41.7 million, up 54.0 percent from revenues of $27.1 million in the first-half to the previous fiscal year. A six-month net loss of $47.9 million ($1.37 per share) compared to a net loss of $420,000 one year earlier. The previously mentioned non-cash charge of $49.2 million was also included in Majesco’s half-year net loss.
