Profits rise for Mad Catz

Mad Catz has revealed full year operating income of USD 6.4 million (EUR 4.7m), a significant climb compared to last year's loss of USD 9.2 million (EUR 6.8m).

Profits for the year ended March 31 were USD 25 million (EUR 18.5m), although sales were down 1 per cent to USD 99.7 million (EUR 73.8m). Net income for the year was USD 3.7 million (EUR 2.7m), up from a USD 6.7 million (EUR 4.9m) loss the previous year.

The company recorded a sales rise of 12.1 per cent for the forth quarter to USD 19.3 million (EUR 14.2m), with profits again rising to USD 0.7 million (EUR 518,000), compared to a loss of USD 3.3 million (EUR 2.4m) for the previous year.

Fuelling the company were successful sales of new lines for the PlayStation 3 and Wii. The company is also continuing its policy of branding peripherals such as a recently announced deal with Microsoft for a Halo 3 range of products.

"Concluding what was already an impressive year, Mad Catz generated solid increases in forth quarter financial results as we benefited from initiatives to selectively diversify and expand our product lines and improve operating efficiencies," commented Darren Richardson, president.

Richardson noted the company is now pursuing a three-pronged approach to growth - aligning products with licenses, the bundling of software with relevant peripherals and the expansion into other gadget technology.