Mad Catz sees massive decline in revenue and profit
Mad Catz, the third-party peripheral maker for various systems has announced its Q3 results and they’re not pretty. The company saw almost 50% decline for revenue and profit and the CEO Darren Richardson isn’t pleased, but is a little optimistic.
Revenue fell to $46.2 million from $96 million last year – while the profits declined to $11.2 million from $26.4 million last year.
They have said that the reason was because of lack of game-specific peripherals.
“While we are not satisfied with these results, we believe a simple comparison between the fiscal third quarter of 2012 and 2011 is not a fully accurate indicator of the company’s direction and prospects,” said Richardson.
“Three years ago, the company made a strategic decision to shift its focus towards the creation of high-value products for passionate, hardcore consumers.
“This shift has not happened overnight and is still on-going, he added.”
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