Mad Catz Interactive Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2016
November 03, 2016 at 04:17 pm EDT
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Mad Catz Interactive Inc. announced unaudited consolidated earnings results for the second quarter and six months ended September 30, 2016. For the quarter, the company reported net sales of $14,867,000 compared to $38,918,000 a year ago. Operating income was $4,478,000 compared to $859,000 a year ago. Income before income taxes was $4,538,000 compared to loss before income taxes of $520,000 a year ago. Net income was $4,080,000 or $0.06 per basic and diluted share compared to net loss of $1,611,000 or $0.02 per basic and diluted share a year ago. Adjusted EBITDA was $5,360,000 compared to $1,391,000 a year ago.
For the six months, the company reported net sales of $25,655,000 compared to $51,892,000 a year ago. Operating loss was $230,000 compared to $2,903,000 a year ago. Income before income taxes was $6,000 compared to loss before income taxes of $4,512,000 a year ago. Net loss was $713,000 or $0.01 per basic and diluted share compared to $5,576,000 or $0.08 per basic and diluted share a year ago. Net cash used in operating activities was $6,345,000 compared to $7,701,000 a year ago. Purchases of property and equipment were $422,000 compared to $1,245,000 a year ago. Adjusted EBITDA was $1,885,000 compared to adjusted LBITDA of $1,674,000 a year ago.
Mad Catz Interactive, Inc. is engaged in providing gaming hardware, designed, and engineered in-house for the gamers. The Company designs products for gaming across multiple platforms, including Windows, PC and Mac computers in home gaming consoles, handheld gaming consoles, smart phones, tablets, and other mobile devices. Its DAKOTA Technology utilizes signal-detection techniques to eliminate the bouncing and debouncing effect of the sensor pin. This technology registers each signal and allows the sensor pin to perform accurate clicks. The Company provides a range of product line, including mice, mouse pads, keyboards, audio and controllers. The mice products include B.A.T 6+, M.O.J.O M1, R.A.T. M1, R.A.T. PRO X3, R.A.T., PRO X3 Supreme, and R.A.T.AIR. Its mouse pads products include G.L.I.D.E.38, G.L.I.D.E. 21, G.L.I.D.E.19 and G.L.I.D.E.16. Its keyboards product includes S.T.R.I.K.E. 13, S.T.R.I.K.E. 4, and S.T.R.I.K.E. 2. Its audio products include F.R.E.Q.4 and F.R.E.Q.2.