Mad Catz Reports Fiscal 2007 Third Quarter Basic and Diluted EPS of $0.07
Wednesday February 14, 10:47 am ET
- Gross Profit Increases 57.2% Year-Over-Year -
SAN DIEGO, February 14 /CNW/ - Mad Catz Interactive, Inc. (AMEX/TSX: MCZ):
Conference Call: Today, February 13, at 5:00 p.m. EST
Dial-in numbers: 888/793-1698 (US and CAN) or
212/231-6006 (International)
Webcast: www.madcatz.com (Select "Investors")
Replay Information: See release text
Mad Catz Interactive, Inc. ("Mad Catz") (AMEX/TSX: MCZ), a leading worldwide third party video game accessory provider, today announced financial results for the three-month period ended December 31, 2006, the Company's fiscal 2007 third quarter.
Net sales for the quarter ended December 31, 2006 were $36.5 million, a decrease of 19.0% from net sales of $45.0 million during the prior year third quarter. Gross profit for the quarter increased 57.2% to $10.5 million from $6.7 million in the same period a year ago. Gross profit margin in the fiscal 2007 third quarter was 28.7% compared to 14.8% in the fiscal 2006 third quarter. Net income for the quarter ended December 31, 2006 was $3.7 million, or $0.07 per basic and diluted share, compared to $0.0 million, or $0.00 per basic and diluted share, in the prior year fiscal third quarter. EBITDA, a non-GAAP measure (defined as earnings before interest, taxes, depreciation and amortization), for the quarter ended December 31, 2006 was $6.2 million compared to negative EBITDA of $0.1 million for the quarter ended December 31, 2005. A reconciliation of EBITDA to the Company's net income on a GAAP basis is included in the financial tables accompanying this release.
Net sales for the nine-month period ended December 31, 2006 were $80.4 million, a decrease of 3.8% from $83.5 million in the same nine-month period of the prior fiscal year. Net income for the nine months ended December 31, 2006 was $3.0 million or $0.06 per basic and diluted share, compared to net loss of $3.3 million or $(0.06) per basic and diluted share, for the nine months ended December 31, 2005. EBITDA for the nine months ended December 31, 2006 was $7.0 million compared to negative EBITDA of $3.0 million in the same period of the prior fiscal year. |
