Mad Catz Interactive, Inc. (MCZ) Reports Record First Quarter Sales, Gross Profit
Read the full article: http://blog.qualitystocks.net/?p=11839
Mad Catz Interactive, Inc. (MCZ), a third-party provider of accessories for video game consoles and personal computers, reported first quarter 2009 financial results this afternoon after the close. Revenues rose to a first quarter record of $23.2 million, an increase of 58.9% year over year from $14.6 million. Gross profit rose to $8.1 million, also a first quarter record, and an increase of 72.3 % from $4.7 million in Q1 2008. Net loss for the quarter was $0.8 million, or a penny per share, compared to a net loss of $0.2 million, or a fraction of a penny, for the same period last year. Earnings were impacted by a 76% increase in selling, general, and administrative expenses, which rose to $7.9 million compared to $4.5 million a year ago.
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