Mad Catz touts record quarter as losses shrink

Peripheral maker Mad Catz released its first fiscal quarter results today, and while sales were down from the same period the year before, the company found a few silver linings.

First and foremost, the company lessened its losses for the three months ended June 30. Noting that its first quarter is seasonally the slowest time of its year, Mad Catz posted what it called a record operating loss of $200,000, down from $1.2 million for the same period last year.

Net sales for the quarter were down nearly 20 percent to $18.1 million, which the company blamed in part on lingering effects of the console generation transition and a tough comparison given last year's release of Real World Golf.

During the quarter, Mad Catz announced deals to release peripherals for a number of upcoming games, including Halo 3, Mass Effect, Assassin's Creed, and Splinter Cell: Conviction. The company also inked a deal with the NHL, and renewed or expanded its existing deals with the NFL, NBA, and MLB. Finally, the company acted to expand into new markets, introducing AirDrives, a new line of headphones designed with safety in mind, which will retail between $69 and $100.

Going forward, Mad Catz said it will expand its efforts to license other companies' brands for its peripherals, as well as move into "adjacent product categories."