Mad Catz Reports Second Quarter Loss

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http://www.frictionlessinsight.com/newspics/Logos/MadCatz.jpgMad Catz reported its financial results for its second fiscal quarter ended September 30, 2008.
For the quarter, Mad Catz reported a net loss of $1.239 million, compared to net income in the comparable quarter the previous year of $872 million. Around $0.36 million of that loss is the result of minor accounting errors from previous quarter that were judged to be immaterial enough that previous quarters' financials did not need to be restated. Instead the loss was reported in this, most recent, quarter. Mad Catz is still trying to digest its acquisition of Saitek last year, so many of the company's costs relate to merging legal entities and streamlining merged operations.

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