VC

1 (1) – Super Mario Bros. 3 2 (2) – Super Mario Bros. 3 (3) – Super Mario World 4 (4) – Super Mario Bros. 2 5 (5) – …
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– Delivers Significant Increase in Revenue and Profitability – — Increases Fiscal 2009 Guidance – — Net Revenues Increased More Than 75% to $32.8M – — Net Income Increased 54% to $4.2M or $0.15 per Share –
EDISON, N.J., March 11, 2009 /PRNewswire-FirstCall via COMTEX News Network/ — Majesco Entertainment Company (Nasdaq: COOL), an innovative provider of video games for the mass market, today reported financial results for the first quarter ended January 31, 2009.

For the first quarter ended January 31, 2009, Majesco’s net revenues increased 75.8 percent to $32.8 million versus $18.7 million in the same period a year ago. During this same period, the Company reported operating income of $3.7 million compared to operating income of $2.4 million in the first quarter of 2008. Net income for the quarter was $4.2 million versus net income of $2.7 million in 2008. The Company’s basic and diluted earnings per share for the quarter were $0.15 compared to $0.10 in the same period last year.

Results for the first quarter of 2009 include $0.4 million of non-cash compensation; a loss of $0.1 million related to a change in the fair value of warrants; a $0.1 million charge related to settlement of litigation; and $1.1 million of net proceeds from the sale of rights to a state tax operating loss carryforward. Results for the first quarter of 2008 include $0.4 million of non-cash compensation; a gain of $0.5 million related to a change in the fair value of warrants; and a $0.3 million gain related to settlement of litigation. Non-GAAP operating income for the first quarter of 2009 was $4.3 million and $2.5 million for 2008. Non-GAAP net income was $3.7 million for the first quarter of 2009, and $2.3 million for the same period in 2008.

Jesse Sutton, Chief Executive Officer of Majesco, said, “We had a terrific holiday season as reflected by our outstanding financial performance in the first quarter and our best quarter since implementing our casual gaming strategy three years ago. Revenue for the quarter grew more than 75 percent to $32.8 million and net income increased 54 percent to $4.2 million, which further demonstrates our ability to execute on our strategy and convert revenue growth into bottom-line returns. Our success was driven by strong demand across our product line, specifically for our Cooking Mama titles and the newly released Jillian Michaels’ Fitness Ultimatum 2009, which has become a hit with approximately 500,000 copies sold to date. We are well positioned to capitalize on the increasing demand for family friendly mass market games, the fastest growing segment of the industry, which in part is being driven by the success of Nintendo’s platforms. We are focused on the right market, have the right strategy and have a proven management team that is delivering profitable growth and building value for our shareholders.”

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Everyone’s Favorite Ninja Infiltrates DS With All-New Storyline and Grown Up Characters From Hit Animated Series

LOS ANGELES – Mar. 11, 2009 – TOMY Corporation today announced that NARUTO™ Shippuden: Ninja Council® 4 is currently in development exclusively for Nintendo DS™. As the latest installment to the popular Ninja Council series of videogames that has sold more than 800,000 units to date in North America, NARUTO Shippuden: Ninja Council 4 is the first DS game to feature the NARUTO Shippuden story arc in North America, allowing fans to play as Naruto and his friends in the next generation of the series. Based on the enormously successful animated series from VIZ Media, NARUTO Shippuden: Ninja Council 4 introduces consumers to a host of playable characters sporting their updated NARUTO Shippuden looks, and wireless multiplayer battles for up to four players.

“NARUTO Shippuden: Ninja Council 4 encourages franchise fans and newcomers alike to experience the next iteration of the classic Ninja Council series,” said Laura Yoshioka, director of consumer software at TOMY Corporation. “The addition of multiple new playable characters and an immersive story mode based on the NARUTO Shippuden story arc, coupled with the touch screen capabilities of the DS, make this a classic action-adventure videogame.”

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