Majesco Not So Majestic (COOL)

Majesco Entertainment Company (NASDAQ: COOL) is being punished in the after-hours session.  The vide game maker reported earnings which are not looking as promising as shares were hoping for earlier today.  Net quarterly revenues were up 37% to $66.2 million and operating income was down at $7.6 million versus $8.0 million a year earlier.  On a non-GAAP basis, net income for the quarter was $7.3 million versus $7.5 million for the same period last year.

Non-GAAP net income was $0.18 per share for the quarter, down from $0.20 EPS last year. With the company having the Zumba fitness launches, it looks as though investors found themselves wanting more.  The company expects fiscal 2012 full year net revenue in a range of $130 to $140 million, and non-GAAP earnings per share of $0.25 to $0.35.  Thomson Reuters has estimates of $0.35 EPS and $136.5 million.

Shares were up over 5% at $2.97 today, but the after-hours session has shares down about 11.5% at $2.63 in active trading.