Majesco regains Nasdaq compliance

April 3, 2009 3:20PM PDT

Cooking Mama publisher finds itself on the right side of trading market after stock price closes above $1 for 10 consecutive days.

These first few months of 2009 have resulted in some good news for casual-game maker Majesco. In January, the New York-based Cooking Mama maker announced that it had returned to profitability during its 2008 fiscal year, thanks largely to its shift away from top-tier, big-budget game development to mass-market-friendly casual titles for Nintendo's best-selling Wii and DS.

Rainbows for everyone!

Today, Majesco announced another bit of good news, saying that it has regained compliance with the Nasdaq stock market's listing standards, because its share price has been at or above $1 for 10 consecutive days. Majesco had been notified of its noncompliance with Nasdaq's standards in August 2008. According to today's announcement, Nasdaq now considers the matter to be closed.

Since closing at $0.61 on March 3, Majesco stock has skyrocketed 139 percent, finishing Friday's trading at $1.46. In March, the publisher reported first-quarter revenues of $32.8 million, which were up more than 75 percent from a year before. Profit also spiked during the November-January period, rising 54 percent to $4.2 million.

By Tom Magrino

Tom Magrino has covered the games industry since 2006. He's been compared to Steve Martin by Ozzy Osbourne and Daniel Craig by Tim Schafer. His voice, heard largely on GameSpot's podcast, recalls that of Kermit the Frog. It ain't easy bein' Magreen.

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8 comments

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Hedfix

Kind of regret not investing really. Nevermind.

mgarcia3

Does this mean I finally get Bloodrayne 3? :o

zintarr

Considering that most of the Nasdaq is in noncompliance at this point would they really have been thrown off of it?

HeeroYuy0905

Maybe it's time to start investing?

HappyApryl

I'm a FPS fan....and running and gunning and blowing stuff up in the big titles. But lately because of a tight budget I've tried some of these cheaper family oriented games, not just on the wii but the pc too, and I'm pleasantly surprised that some of them are quite fun. If a company needs to survive buy making the family games during this time, more power to em, as long as they still release a big title from time to time.

wahyudil

hmmmm .... guess what? many developer will try to follow Majesco's step .... its mean there will be more of non-hardcore games out there ... no more mini games please ...

Merl57

YES! maybe people are starting buy while the price is cheap

robfield

Good for Majesco, they've had a great turnaround.

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