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Mad Catz turns $1.13m profit for third quarter

73% rise in sales helps offset costs of Tritton acquisition

Peripheral manufacturer Mad Catz has posted a net income of $1.13 million for its third fiscal quarter, ending September 30.

This is a significant turnaround from the same time last year, which saw a net loss of $0.97 million. Net sales for the most recent quarter totalled $37.4 million – up from $21.6 million in 2009.

The stronger sales helped reduce the impact of ongoing costs related to the acquisition of gaming headset manufacturer Tritton earlier this year. Total operating expenses for the quarter reached $8.6 million.

Mad Catz claimed its Rock Band 3 peripherals were the main contributor to the rise in sales, with help from the first fruits of the Tritton acquisition.

Xbox 360 was the primary platform for the quarter's sales, at 37 per cent against 17 per cent for PC, 12 per cent for PS3 and 11 per cent for Wii.

However, Mad Catz is at a $248,000 loss for its first fiscal half-year - though again this was an improvement on last year, when the hardware-maker was almost $2 million down.

Mad Catz has further room to breathe thanks to Well Fargo extending its borrowing limit to $50 million, although the loan will revert back to $30 million next February

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Alec Meer

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A 10-year veteran of scribbling about video games, Alec primarily writes for Rock, Paper, Shotgun, but given any opportunity he will escape his keyboard and mouse ghetto to write about any and all formats.