Mad Catz Interactive Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported net sales of $65,038,000 against $30,451,000 a year ago. Operating income was $2,821,000 against $2,207,000 a year ago. Income before income taxes was $2,725,000 against $1,900,000 a year ago. Net income was $1,219,000 against net loss of $1,358,000 a year ago. Basic and diluted net income per share was $0.02 against basic and diluted per share of $0.02 a year ago. Adjusted EBITDA was $2,950,000 against $2,713,000 a year ago.

For the nine months, the company reported net sales of $116,930,000 against $69,665,000 a year ago. Operating loss was $82,000 against operating income of $652,000 a year ago. Loss before income taxes was $1,787,000 against $263,000 a year ago. Net loss was $4,357,000 against $809,000 a year ago. Basic and diluted net loss per share was $0.06 against $0.01 a year ago. Net cash used in operating activities was $11,839,000 against $4,231,000 a year ago. Purchases of intangible assets were $125,000. Purchases of property and equipment were $1,600,000 against $1,604,000 a year ago. Adjusted EBITDA was $1,276,000 against $2,156,000 a year ago. Net cash used in operating activities year-to-date was $11.8 million.

The company expects to record cash restructuring charges during the fourth quarter of fiscal 2016, comprising primarily of severance and benefits afforded to terminated employees, of approximately $3.0 million. The Company anticipates that the actions associated with the reductions will be substantially completed by the end of the fiscal fourth quarter of 2016 and the company expects to record a pre-tax cash restructuring charge of approximately $3.0 million during the fourth quarter of fiscal 2016, comprised primarily of severance and benefits afforded to terminated employees and executive officers.