Mad Catz Interactive, Inc. (NYSE MKT/TSX: MCZ):
|Today, June 13, 2012 at 5:00 p.m. ET|
|(212) 231-2910 (U.S. & International)|
www.madcatz.com (Select “Investors”)
|See text of the release|
Mad Catz Interactive, Inc. (“Mad Catz” or “the Company”) (NYSE MKT/TSX: MCZ), today announced financial results for the fiscal fourth quarter and year ended March 31, 2012.
For the fiscal year ended March 31, 2012, the Company generated net sales of $117.6 million, a decline of 36% from record net sales of $184.0 million in fiscal 2011. Gross profit for fiscal 2012 declined 41% to $31.5 million, from $53.4 million in the prior fiscal year, while gross profit margin declined to 27%, compared to 29% in fiscal 2011. Total operating expenses in fiscal 2012 were $35.4 million, up 2% from $34.6 million in the prior year, leading to an operating loss of $3.9 million, compared to operating income of $18.8 million a year ago. Foreign exchange loss was $0.6 million, compared to a gain of $1.2 million in fiscal 2011. Reflecting an income tax benefit of $1.3 million, the Company recorded a net loss of $1.6 million, or a loss of $0.03 per share in the fiscal year ended March 31, 2012, compared to net income of $10.9 million, or $0.18 per diluted share in the prior fiscal year.
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