Accessories maker Mad Catz has reported a loss of $1.4 million during the quarter ended June 30. Total sales reached $19.9 million this quarter, down from $22.4 million during the same period last year. The 11% decrease year-over-year comes from diminished sales of Street Fighter IV and associated peripherals. Declining sales in the PC and handheld market also attributed to lower sales for the company.
Commenting on the company’s results, Darren Richardson, president and chief executive officer of Mad Catz, said, “A tough comparison with last year’s Street Fighter IV product success and the timing of the new product releases in this year’s fiscal first quarter led to lower net sales relative to the near-record level of a year-ago. However, we continue to believe we can achieve or exceed our previously-stated goal of high single-digit percent year-over-year organic revenue growth in fiscal 2011.
“We remain focused on diversifying our product offerings, continuing to expand our growth outside of North America, aligning the company with some of the industry’s most popular and anticipated game titles, and bringing high-value products to market that enhance the gaming experience.” Richardson continued, “We believe the success of this strategy will be evident in the coming quarters, as it was in fiscal 2010.”
“With the upcoming launch of exciting games such as Rock Band 3 and Call of Duty: Black Ops, among others, the introduction of Microsoft's Kinect and Sony’s PlayStation Move and the emergence of 3D videogame products, we believe that Mad Catz and the videogame industry are set for an exciting second half of the calendar year.”
