Mad Catz claws away at losses

By Tim Surette, GameSpotPosted Aug 10, 2006 12:41 pm PT

First-quarter earnings trimmed to $900k loss, down from loss of $2.1 million last year; revenues of $18.1 million set company record for Q1.

Mad Catz Interactive, a manufacturer of gaming peripherals, today released its financial earnings for the quarter ended June 30, 2006. While the overall numbers were still negative, sales for the quarter were up from the same period last year.

The $18.1 million in sales set a record for the company in its first fiscal quarter, beating last year's mark of $14.8 million. The improved sales helped lessen narrow losses, which totaled $900,000 for the quarter. Despite the red ink, the figure was a positive as the company's earnings for Q1 of 2005 was $2.1 million.

Speaking about the company's results, Mad Catz CEO and president Darren Richardson emphasized the record setting quarter in a time of console transition.

"Mad Catz achieved record first quarter net revenues despite the industry challenges presented by the ongoing console transition and the fact that the fiscal first quarter is historically our slowest period of the year," Richardson said. The CEO singled out Real World Golf, a game with a customized golf club controller, as an example of his company's efforts to "diversify [its] revenue sources."

As of press time, shares of Mad Catz Interactive (MCZ) were up $.05 on the day to $.39, a rise of 14.7 percent.

30 Comments

  • Mr_Doom212

    Posted Sep 2, 2006 8:41 pm PT

    Mad Catz make cheesy stuff. My friend needed a controller for th GC. He went through 5 Mad Catz controllers. He just bought a Nintendo one/

  • DarknessOfFate1

    Posted Aug 11, 2006 7:59 pm PT

    man thats exactly what happened to me i bought a ps2 contorl and in a freiking hour it kept jamming left., i hate those people.

  • DrKill09

    Posted Aug 11, 2006 10:56 am PT

    Mad Catz makes the worst garbage I've ever seen. A few years ago, I wanted a second controller for the PS2. I didn't want to spend $40 for Sony's brand, so I bought a Mad Catz for $10. Two weeks later, it broke, and I couldn't return it. The one analog stick kept pointing to the left, so in GTA VC, Tommy would keep facing the left. ANNOYING!!! Never, EVER, EVER, EVER, EVER, buy a Mad Catz controller. They suck! Their memory cards, on the other hand work fine. Never had trouble with my XBox one.

  • Attitude2000

    Posted Aug 11, 2006 10:40 am PT

    Product life depends on a lot of things...mostly mentality of the handler. It's silly to trust a sacred thing like memory in the hands of MadCatz, but the 1019 block card I bought for my GC was like 4 bucks used.

  • OPOLO

    Posted Aug 11, 2006 10:20 am PT

    I always stay away from their stuff & just wait for Logitech

  • Geek12

    Posted Aug 11, 2006 7:19 am PT

    Finally! and i hope there sales continue to decline! Looks like logitec showed them who's boss.

  • SilV3RSix

    Posted Aug 11, 2006 5:13 am PT

    I think I personally raised their quarterly sales when the first Halo came out - That suicide grenade was hell on my left trigger. After about 3 days my grenades were on automatic launch. But it was either them or that HUGE MSoft controller, so...

  • Sanguis_Malus

    Posted Aug 11, 2006 4:47 am PT

    Madkatz make thin plastic products that break easily !
    The controllers in particular are of inferior quality.

  • DarknessOfFate1

    Posted Aug 11, 2006 3:23 am PT

    who cares they make awful horrible products.

  • ketsuatama

    Posted Aug 10, 2006 11:41 pm PT

    Hope the plumbers' pension fund hasn't invested with these guys!

  • enoslives7

    Posted Aug 10, 2006 5:24 pm PT

    Mad Catz controllers feel good, but they only last a week.......

  • _Margulis_

    Posted Aug 10, 2006 4:20 pm PT

    I've been waiting for mad catz to die since the late 90s.

  • alpha_company

    Posted Aug 10, 2006 3:45 pm PT

    Woohoo! Duh

  • Kempatsu_basic

    Posted Aug 10, 2006 3:38 pm PT

    Whoever is doing quality control over at MadCatz should be fired. All my friends who are pretty old and naive bought their products and 3 GC controllers went to hell. These guys aren't really a wild bunch either - these are the type to wrap the controller up after use.

  • vaejas

    Posted Aug 10, 2006 3:21 pm PT

    I see the shills are already out doing damage control.

  • LexLas

    Posted Aug 10, 2006 3:06 pm PT

    Maybe people are finding out just how dependable their items are. Meaning some of their stuff is really not great so anyone buying it eventually finds out it's best to buy from the original manufacture, this could be why they are taking a fall ?? HMMMM ???

  • pohlkat

    Posted Aug 10, 2006 2:28 pm PT

    indeed the only decent thing i bought of madkatz is a GBA case, wich held a lot of games and was very durable. the cloth didnt fade either. other than that their stuff sucks

  • cesarotromundo

    Posted Aug 10, 2006 2:05 pm PT

    no offence... Mad CAtz SUCKS....my friends and I have got controlers and dance pads from this company.. they last @ most 2 months and they break... Maybe if madcatz make KICK ASS CONTROLLERS like logitech then it would be a lot better!

  • FRoStYisGoD

    Posted Aug 10, 2006 1:58 pm PT

    mad catz does indeed suck there contorllers break so damn easy and its worth buying

  • Auricom_Pilot

    Posted Aug 10, 2006 1:58 pm PT

    I wonder if mad catz will struggle when people have restricted budgets thanks to the price of next generation consoles. I won't be able to afford 3rd party hardware after buying games.

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