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TheStreet Open House

Mad Catz Reports Fiscal 2013 First Quarter Net Sales Growth Of 33%

Stocks in this article: MCZ

Mad Catz Interactive, Inc. (NYSE MKT/TSX: MCZ):

Conference Call:

   

Today, August 8, 2012 at 5:00 p.m. ET

Dial-in numbers:

(212) 231-2910 (U.S. & International)

Webcast:

www.madcatz.com (Select “Investors”)

Replay Information:

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 first quarter ended June 30, 2012.

For the quarter ended June 30, 2012, the Company generated net sales of $21.8 million, an increase of 33% from net sales of $16.5 million in the prior year quarter. Gross profit for the fiscal 2013 first quarter increased 59% to $6.3 million, from $3.9 million in the prior year quarter, while gross profit margin increased to 29%, compared to 24% in the prior year quarter. Total operating expenses in the fiscal 2013 first quarter were $8.0 million, down 10% from $8.9 million in the prior year quarter, leading to an operating loss of $1.7 million, compared to an operating loss of $4.9 million in the prior year quarter. Foreign exchange gain for the fiscal 2013 first quarter was $0.3 million, compared to a gain of less than $0.1 million in the prior year quarter. Reflecting income tax expense of $0.3 million, the Company recorded a net loss of $1.7 million, or a loss of $0.03 per share in the fiscal 2013 first quarter, compared to a net loss of $3.5 million, or $0.06 per diluted share in the prior year quarter.

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