Mad Catz Slows Tempo Following a Rocking 2010Friday, November 11, 2011
Mad Catz Interactive Inc., the San Diego maker of accessories for video games, reported Nov. 9 a net loss of $500,000 for its 2012 fiscal year second quarter, compared with a net profit of $1.1 million in the like quarter last year.
Revenue for the period that ended Sept. 30 was $25.8 million, down 31 percent from the comparable quarter last year.
For the six months, Mad Catz reported a net loss of $4 million compared with a net loss of $200,000 for the first six months of the prior fiscal year.
Revenue for the first half was $42.2 million, compared with $57.3 million in the first half of the prior fiscal year.
The company said the decline in sales was the result of a much stronger performance in the prior year’s second quarter that was driven by strong sales of accessories, particularly those for the “Rock Band 3” product line.
Traded on the American Stock Exchange under MCZ, shares closed Nov. 9 at 64 cents, down a dime from the prior day’s closing price. Its 52-week range is 54 cents to $2.39.
— Mike Allen