Mad Catz Interactive Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
February 02, 2017 at 04:05 pm EST
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Mad Catz Interactive Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported net sales of $19,061,000 against $65,038,000 a year ago. Operating loss was $3,038,000 against income of $2,821,000 a year ago. Loss before income taxes was $2,682,000 against income of $2,725,000 a year ago. Net loss was $3,461,000 against net income of $1,219,000 a year ago. Basic and diluted net loss per share was $0.05 against basic and diluted earnings per share of $0.02 a year ago. Adjusted LBITDA was $2,032,000 against adjusted EBITDA of $2,950,000 a year ago. Fiscal 2017 third quarter net sales decreased 71%, driven primarily by a decrease in sales of Rock Band 4 and Saitek products.
For the nine months, the company reported net sales of $44,716,000 against $116,930,000 a year ago. Operating loss was $3,268,000 against $82,000 a year ago. Loss before income taxes was $2,676,000 against $1,787,000 a year ago. Net loss was $4,174,000 against $4,357,000 a year ago. Basic and diluted net loss per share was $0.06 against $0.06 a year ago. Net cash used in operating activities was $5,109,000 against $11,839,000 a year ago. Purchases of property and equipment were $700,000 against $1,600,000 a year ago. Adjusted LBITDA was $147,000 against adjusted EBITDA of $1,276,000 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.