Mad Catz Reports Slightly Better Second Quarter Thanks to Accounting, Not Sales

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Mad CatzPeripheral manufacturer (and now publisher) Mad Catz announced the financial results for its fiscal second quarter ended September 30, 2011. Read on for more details...
For its fiscal second quarter ended September 30, 2011, Mad Catz reported net income of $1.128 million compared to a net loss of $480,000 in the same quarter the previous year. Sadly, the positive result was largely bolstered by a one-time gain related to an adjustment in the liability associated with warrants issued in April 2012. Sales were low, but a change in the valuation of that liability made the results look better than expected. Mad Catz is still blaming the decrease in revenues from peripherals relating to Rock Band-style games for its poor results.

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This page contains a single entry by Editor published on November 9, 2011 4:47 PM.

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