Mad Catz Interactive Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended March 31, 2016
June 02, 2016 at 06:52 pm EDT
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Mad Catz Interactive Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended March 31, 2016. For the quarter, the company reported net sales of $17.144 million against $16.558 million a year ago. Operating loss was $9.281 million against $2.295 million a year ago. Loss before income taxes was $8.996 million against $2.169 million a year ago. Net loss was $7.263 million or $0.10 per basic and diluted share against net income of $5.556 million or $0.09 per basic and diluted share a year ago. Adjusted LBITDA was $8.389 million against $1.841 million a year ago. Net sales increased 4% over the prior year fourth quarter, driven by a 57% increase in net sales to the Americas and a 7% increase in net sales to APAC, partially offset by a 30% decrease in net sales to EMEA. Strong top-line results in the quarter driven by sales of Rock Band 4 products, weaker than expected consumer demand for Rock Band 4 led to lower gross profit margins, higher expenses.
For the year, the company reported net sales of $134.074 million against $86.223 million a year ago. Operating loss was $9.363 million against $1.643 million a year ago. Loss before income taxes was $10.783 million against $2.432 million a year ago. Net loss was $11.620 million or $0.16 per basic and diluted share against net income of $4.747 million or $0.07 per basic and diluted share a year ago. Net cash used in operating activities was $6.349 million against net cash provided by operating activities of $1.472 million a year ago. Purchases of intangible assets were $0.130 million. Purchases of property and equipment were $1.753 million against $2.067 million a year ago. Adjusted LBITDA was $7.113 million against adjusted EBITDA of $0.315 million. Net sales increased 55% over the prior year, partially offset by a 17% decrease in net sales to EMEA and 35% decrease in net sales in APAC. Strong top-line results in the full year driven by sales of Rock Band 4 products, weaker than expected consumer demand for Rock Band 4 led to lower gross profit margins, higher expenses.
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.
MAD CATZ INTERACTIVE, INC. 
