WASHINGTON (dpa-AFX) - Majesco Entertainment Co. (COOL), a developer and marketer of video games, Tuesday reported a wider net loss for the fourth quarter that also fell short of analysts' estimates. Loss for the quarter widened due mainly to an impairment charge as well as higher operating expenses. Following the news, shares of Majesco fell over 15 percent in after-hours trade. The Edison, New Jersey-headquarter company's net loss for the quarter more than doubled to $3.9 million or $0.10 per share from $1.5 million or $0.04 per share last year. Net loss for the quarter included a loss on impairment of software development costs and license fees of $2.7 million, related to games for which, in management's estimation, future cash flows will not be sufficient to recover previously capitalized costs. Excluding the one-time items, net loss for the quarter was $2.7 million or $0.07 per share. On average, four analysts polled by Thomson Reuters expected earnings of $0.04 per share for the quarter. Analysts' estimates typically exclude one-time items. Majesco's net revenues for the quarter grew 8 percent to $25.1 million from $23.4 million last year. Four Wall Street analysts on a consensus estimated revenues of $26.97 million for the fourth quarter. Operating expenses for the quarter increased to $7.2 million from $5.1 million last year. Moving forward, the company expects adjusted earnings for the full year 2012 in a range of $0.25 to $0.35 per share. The company expects fiscal 2012 full year net revenues in a range of $125 million to $140 million. Analysts currently estimate earnings of $0.46 per share on revenues of $141.45 million for the full year. COOL closed Tuesday's trading on the Nasdaq at $2.98, up $0.03 or 1.02%. However, the stock lost $0.47 or 15.77% in after-hours trade. Trading volume for the day was about 1 million shares.
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