Mad Catz posts record profits

Mad Catz has seen a year-on-year gross profit increase of 13.7 per cent for its fiscal year ending March 31.

The total $36.4m profit is a new high for the peripherals manufacturer, up from $32m made the year before. Operating expenses dropped 10.7 per cent to $28.2m from $31.6m, giving Mad Catz an operating profit of $8.2m year-on-year.

Net sales also reached a new high of $119m – a 5.7 per cent rise over last year’s $112.6m.

The accessories firm said Xbox 360 products accounted for the majority of sales (31 per cent), followed by PC (22 per cent), PS3 (17 per cent) and Wii products (13 per cent). Mad Catz said its highlights included the Super Street Fighter IV controllers and its range of Cyborg gaming mice.

Other key developments were deals with Harmonix and Activision to produce peripherals for Rock Band and Call of Duty: Black Ops respectively, as well as the acquisition of gaming audio provider Tritton.

Mad Catz president and CEO Darren Richardson said: Our record sales and profits in fiscal 2010 reflect the strategic and operational initiatives we’ve undertaken over the past few years.

We have achieved the goal we set at the beginning of the fiscal year to reduce our operating expenses by a minimum of ten percent, and we achieved these efficiencies without impairing our ability to grow the business.”