Majesco Entertainment Company Reports First Quarter Fiscal 2010 Financial Results

Majesco Entertainment Company (Nasdaq:COOL – News), an innovative provider of video games for the mass market, today reported financial results for the first quarter ended January 31, 2010.

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For the first quarter ended January 31, 2010, Majesco’s net revenues were $29.2 million versus $32.8 million in the same period a year ago. During this same period, the Company reported operating income of $2.5 million, compared to operating income of $3.7 million in the first quarter of 2009. Non-GAAP operating income was $3.5 million versus non-GAAP operating income of $4.8 million in 2009. Net income for the quarter was $3.8 million versus net income of $4.2 million in 2009. On a non-GAAP basis, net income for the quarter was $2.9 million compared to non-GAAP net income of $4.3 million last year. [Read the full article]

VAALCO Energy, Inc. (NYSE:EGY – News) today reported results for the fourth quarter and full-year of 2009.

For the 2009 fourth quarter, VAALCO reported net income attributable to VAALCO of $2.2 million, or $0.04 per diluted share, compared to net loss attributable to VAALCO of $7.5 million, or ($0.13) per diluted share, for the comparable period in 2008.  Fourth quarter 2009 revenues were $32.6 million compared to $16.5 million in the fourth quarter of 2008.  Fourth quarter 2009 results reflect increased sales volumes and significantly higher crude prices when compared to the fourth quarter of 2008.

For the year ended December 31, 2009, VAALCO reported a net loss attributable to VAALCO of $7.9 million, or ($0.14) per diluted share, compared to a net income attributable to VAALCO of $29.7 million, or $0.50 per diluted share, for the year ended December 31, 2008. [Read the full article]

Discover Financial Services (NYSE: DFS – News) today reported a net loss for the first quarter of 2010 of $104 million, as compared to net income of $120 million for the first quarter of 2009. Results for the first quarter of 2010 included a pre-tax addition to loan loss reserves of $305 million ($185 million after tax), which brings the company�(TM)s reserve coverage to approximately 12 months of losses. Net income for the first quarter of 2009 included approximately $297 million (after tax) related to the Visa/MasterCard antitrust litigation settlement.

The company has received regulatory approval to redeem the $1.2 billion of preferred stock that it issued to the U.S. Treasury under the TARP Capital Purchase Program. Prior to such redemption, Discover Bank will issue $350 million of tier 2 qualifying capital in the form of subordinated debt. [Read the full article]

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