Among the factors that could cause actual results to differ materially are the following: the ability to maintain or renew the company's licenses, competitive developments affecting the company's current products, first party price reductions, price protection taken in response to price cuts, the ability to successfully market both new and existing products domestically and internationally, difficulties or delays in manufacturing, delays in the company’s ability to obtain products from its manufacturers in China, market and general economic conditions. A further list and description of these risks, uncertainties and other matters can be found in the company's reports filed with the appropriate regulatory authorities.
Today's call, June 13, 2012 and webcast includes non-GAAP financial measures within the meaning of the SEC Regulation G. When required, a reconciliation of all non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with GAAP can be found in today's press release.
With that, I would now like to introduce Darren Richardson, President and CEO of Mad Catz. Darren?
Darren RichardsonThank you, Norberto, and good afternoon everyone. Thank you for joining us on our fiscal 2012 fourth quarter and full-year conference call. Fiscal 2012 full-year results largely reflect the difficult year-ago comparison which benefited from sales of products related to specific video games and revenue from a third-party distribution agreement which has since been discontinued. We also experienced delays in launching key products for the 2012 -- 2011 holiday season, and we’re impacted by the overall economy, fundamental changes in the video game industry, marked by the transition of Nintendo’s Wii console, and the move by many casual gamers to smartphones and tablets. Even though we are not satisfied with these results, we believe a simple comparison between fiscal 2012 and fiscal 2011 is not a fully accurate indicator of the company’s direction and prospects.