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Mad Catz scores big in Europe

U.S. peripherals manufacturer Mad Catz has announced a Q3 jump in sales of 19 percent, from $41 million to $49 million. For the quarter ended Dec 31, the firm scored gross profits of $16 million, up 51% from $10.5 million in the same quarter of the prior year. Margins are now at 33%, up from 26%.

The company says growth in Europe offset a slight decline in U.S. revenues, while cost-cutting measures and a focus on premium-priced product and licenses aided the numbers. Mad Catz's releases during the quarter included Call of Duty: Modern Warfare 2 accessories as well as fighting stick products based on Marvel vs Capcom 2 Arcade and Street Fighter IV.

Mad Catz boss Darren Richardson said,  “Over the past few years, we’ve successfully transitioned Mad Catz’ product strategy from a value-oriented console videogame focus to a premium products focus, diversifying both geographically and by expanding to the PC market."

He added, "These results reflect our success in aligning the company with some of the industry’s most popular and anticipated titles, and in bringing high-value products to market that enhance the gaming experience. During the quarter, Mad Catz achieved strong growth in sales and gross margin at the same time, we continued to maintain our operating cost discipline, demonstrating the operating leverage potential of our business model."

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Tags: peripherals , usa , mad catz , financial results

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