Mad Catz Reports Lower Third-Quarter Profits

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Mad CatzPeripheral manufacturer Mad Catz announced its financial results for its fiscal third quarter ended December 31, 2011. While the company reported positive net income, its results compare poorly with the same period last year. More importantly, Mad Catz mentioned that it is seeing casual gamers shift away from consoles (and console peripherals) to tablets and smartphones. Read on for the financial results and more details...
For the fiscal third quarter ended December 31, 2011, Mad Catz announced net income of $1.541 million, compared to net income of $9.696 million in the same quarter the previous year. The holiday quarter is generally Mad Catz's best quarter, but compares poorly to the company's holiday quarter last year, a quarter that was strong thanks to products linked to specific game releases in that quarter and a distribution agreement that is no longer in effect. Mad Catz also believes declines resulted from falling Wii-related sales and the transition of casual gamers to smartphones and tablets. As a result, Mad Catz is continuing its transition to products for high-end, hardcore consumers.

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This page contains a single entry by Editor published on February 8, 2012 3:55 PM.

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