Majesco announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. Revenue for the third quarter ended December 31, 2015 increased 37.1% to $29.6 million as compared to $21.6 million in the corresponding quarter of last year. On a sequential basis, third quarter revenue increased 5.0% compared to $28.2 million for the quarter ended September 30, 2015. The growth was primarily driven by favorable momentum in Majesco's P&C business and new customer wins during the year. Adjusted LBITDA for the third quarter ended December 31, 2015 was $1.1 million as compared to adjusted EBITDA of $2.8 million during the quarter ended December 31, 2014. Net loss attributable to company for the quarter ended December 31, 2015 was $1.1 million, or $0.03 per share as compared to net income attributable to company of $1.4 million, or $0.04 per diluted share for the quarter ended December 31, 2014. Loss from operations was $2.288 million against income from operations of $1.510 million a year ago. Loss before provision for income taxes was $2.420 million against income before provision for income taxes of $1.861 million a year ago. LBITDA was $1.296 million against EBITDA of $2.043 million a year ago. Adjusted net loss was $1.130 million or $0.03 per basic and diluted share against net income of $1.972 million or $0.05 per basic and diluted share a year ago.

Revenue for the nine-month period ended December 31, 2015 increased 40.7% to $81.0 million as compared to $57.6 million in the corresponding nine-month period last year. Adjusted EBITDA for the nine-month period ended December 31, 2015 was $0.2 million (0.2% of revenue) as compared to $1.7 million (3.0% of revenue) during the corresponding nine-month period ended December 31, 2014. Net loss attributable to company for the nine-month period ended December 31, 2015 was $2.0 million, or $0.06 per share as compared to net income attributable to company of $0.3 million, or $0.01 per diluted share for the corresponding nine-month period ended December 31, 2014. Loss from operations was $3.737 million against $1.076 million a year ago. Loss before provision for income taxes was $3.612 million against $0.231 million a year ago. LBITDA was $0.792 million against EBITDA of $0.523 million a year ago. Adjusted net loss was $1.559 million or $0.05 per basic and diluted share against net income of $1.357 million or $0.04 per basic and diluted share a year ago.