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TheStreet Open House

Mad Catz Fiscal 2013 Third Quarter EPS Improves To $0.05 Compared To Prior Year EPS Of $0.02

Stock quotes in this article: MCZ

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

Conference Call:

     

Today, February 5, 2013 at 5:00 p.m. ET

Dial-in numbers:

(303) 223-2680 (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 its third fiscal quarter ended December 31, 2012.

For the quarter ended December 31, 2012, the Company generated net sales of $45.0 million, a decrease of 3% from net sales of $46.2 million in the prior year quarter. Gross profit increased 15% to $12.9 million, from $11.2 million in the prior year quarter, while gross profit margin improved to 29% from 24% a year ago. Total operating expenses in the fiscal 2013 third quarter were $8.8 million, down 3% from $9.0 million in the prior year quarter, leading to operating income of $4.1 million, a $1.9 million improvement from the $2.2 million recorded in the prior year quarter. Foreign exchange gain was less than $0.1 million, compared to a loss of $0.5 million in the prior year quarter. Reflecting income tax expense of $1.1 million, the Company recorded net income of $3.1 million, or $0.05 per diluted share, in the fiscal 2013 third quarter, compared to $1.5 million, or $0.02 per diluted share, in the prior year quarter.

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