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Peripheral Maker Mad Catz Swings To Q2 Profit

Video game peripheral maker Mad Catz (Rock Band 3 keyboard), which owns the Tritton gaming audio line, reported Q2 sales up 73% to $37 million, as profits hit $1.1 million for the period, up from a loss.
Video game peripheral maker Mad Catz this week reported a 73 percent rise in fiscal Q2 sales to $37 million, as profits hit $1.1 million for the period ended September 30, up from a loss of $1 million for Q2 last year. Xbox 360 accessory sales saw the most year-on-year growth, accounting for 37 percent of Mad Catz's total gross sales. The audio product category claimed the largest slice of sales with 27 percent. The company earlier this year announced the acquisition of Tritton for $1 million in cash at closing, as well as a maximum of $9 million in cash over the next five years, based on performance milestones. CEO Darren Richardson said in a statement, "While second quarter net sales benefited from initial shipments of Rock Band products and our recently-acquired Tritton gaming audio line, it’s important to note that ... we would still report growth for the quarter if both those product lines were excluded from our sales." A particular highlight going forward may be the partnership with Rock Band 3 creator MTV and Harmonix, with the new game's official keyboard only being available in a Mad Catz-created wireless version. Mad Catz expects to report "high single-digit revenue growth" for the full fiscal year, up from a record $119 million in sales generated in fiscal 2010.

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