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Market Cap little more than 10 mil Enterprise value 20 mil
easy double imo
About to average down a little
Revenue of $25million and EPS of +3cents.
The sold the Saitek simulation product line to Logitech for $13.0 million cash. Also all other revenues. It's also holiday season so people will be buying more products for gifts. I use to have multiple controllers and other Mad Cat product. What would your estimates be?
What are your expectations for Q3 revenue and EPS?
Can't wait for 3rd quarter financials! Gooo Mad Catz!!
* * $MCZ Video Chart 09-16-16 * *
Link to Video - click here to watch the technical chart video
Yes definitely great going into holiday season. I use to buy only Mad Catz controls when I was younger. Looked a lot cooler and about 25% less expensive. Mad Catz has always had a killer name
The 750,0000 shares you mentioned were options with a strike of 21 cents. Not open market buys.
Mad Catz sold one of their brands to Logi for $13mil cash which wipes out all of Mad Catz' debt so that together with the RB4 buy out puts them in a decent cash situation and in a great situation for the upcoming Holiday season.
MCZ is worth about 50cents today, not 23cents.
$13 million purchase - Very low market cap...
x1power, Not sure of the purpose of your post. MCZ is a company with $80+million in sales trading at 22cents and is operationally profitable. Lots of Tritton in GameStop and this upcoming holiday season they will be in over 2000 Walmarts and/or Targets with 7+ distinct SKUs. With over $7mil in cost saving due to rightsizing the org, EPS is likely to be 5 - 8cents this FY.
Feel free to sell or short, I will continue to add. We will see who wins by about Feb 10th.
Have you even been to a retail store lately?
Doubtful even Kmart has any MCZ stuff. Name your retail shelves. Maybe left-overs at Hastings?
Notice any band or music class using MCZ?
I see/hear no mob-bies tapping or plugged into MCZ gear walking into traffic.
Sure enough MCZ decal and maybe T-shirt sales to go huge online and at Sears.
Oh . . . I forgot Game Stop and Wally World closeout section.
Even junk stores have no used MCZ.
Mr. D could, though team with indie and put out SW versions of play music toys as part of entering the VR twilight zone VG craze?
Poke-Keys Dead Band or such . . . Zombie Cats perhaps at Pets Smart
Shelves.
Anyone up to again finance Mr. D to another EU or Asian Vac?
Actually hope and change, and MCZ actually goes up for you all
Nice to see the buying continue. Looks like clear sailing to 40 cents over the next week or two. That is a 50% return from here and just one small step toward the inevitable $1.00+. There is enough revenue here for the new team to generate some impressive profits. Great first step with getting on thousands of retail shelves this coming Fall and Christmas!
Can't find anything for the volume rise,,, but sure is impressive???????????????????????
Same thing happened on 3 different occasions in 2009 prior to the run up to 2.35.
My belief is MCZ isn't going to move up until the shares are in the correct hands. I haven't a clue who has the correct hands.
Something is up. 8 million shares traded yesterday. Yowzerz. Anybody know anything?
Mad Catz has turned an important corner and MCZ stock has bottomed and turned as well. Easy double over the next 6 months.
Mad Catz® Announces the New Tritton® ARK™ Series Gaming HeadsetsInnovation is Still Alive in Gaming Audio
SAN DIEGO, June 07, 2016 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT:MCZ), a global provider of innovative entertainment products, today announced initial details of its new additions to the Tritton audio range: the ARK series
MCZ: Harmonix Drops Struggling Mad Catz for Rock Band 4 Hardware
by Eddie Makuch on March 7, 2016
Harmonix is making changes as it relates to Rock Band 4 hardware. The Boston-based independent developer today announced a deal with Performance Designed Products (PDP) for Rock Band 4 hardware, seemingly replacing Mad Catz as the developer and distributor of Rock Band 4 guitars and drums.
"As we look to fully achieve our goal of creating this console generation's category-defining music gaming platform, we need to partner with a truly world-class manufacturer that can operate at the scale that Rock Band requires," Harmonix CEO Steve Janiak said in a statement.
"PDP has a well-deserved reputation for innovation, customer satisfaction, and quality. They have the logistical and technical expertise to support Harmonix’s ambitious plans for the future of Rock Band, with new hardware alongside a major Rock Band 4 feature update coming this fall."
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You may recall that when Rock Band 4 was announced last year, Mad Catz's involvement was substantially touted. The fact that Mad Catz is facing tough financial times might explain why Harmonix partnered with PDP. As Game Informer explains, Mad Catz's future performance was tied to the success of Rock Band 4, and when the music game came up short, the company announced a major management shakeup and a lot of layoffs. It is possible that Harmonix bought out Mad Catz's contract, but this is unknown at this point.
We asked Harmonix if today's announcement meant that PDP was effectively replacing Mad Catz, but were instead directed to this FAQ, which states that Mad Catz will continue to sell its Rock Band 4 peripherals, though there is no word on if the company will continue to order shipments.
A Mad Catz representative was not immediately available to comment on the nature of its relationship with Harmonix for Rock Band 4 going forward. We will have more details as they become available.
Although new Mad Catz CEO Karen McGinnis said Rock Band 4 performed well for the latest quarter, sell-through was "lower than originally forecast." This resulted in "higher inventory balances as well as lower margins due to increased promotional activity with retailers," she explained. She went on to say that a "competing product" impacted Rock Band 4's sales, most likely a reference to Guitar Hero Live.
She also stressed that Rock Band 4 is a "multiple-year product" that Mad Catz will continue to invest in and support. Additionally, she noted how Harmonix is treating Rock Band 4 as something of a platform, with new DLC released almost every week and regular content updates keeping the game fresh.
Bear in mind that these comments came in February, however.
The Rock Band 4 FAQ regarding today's news explains that Mad Catz peripherals for Rock Band 4 will continue to work, though there may be a compatibility issue with Xbox One controllers with the PC version. Harmonix is working with Microsoft to ensure that Xbox One instruments work on PC.
Harmonix is currently raising money on Fig for a PC version of Rock Band 4. If the target $1.5 million is raised, Sumo Digital will develop the game and it should be out this fall.
Finally, the FAQ explains that Harmonix and PDP will make announcements at PAX East (April) and E3 (June) regarding a new guitar and drumset made by PDP. You can read the full FAQ to learn more.
MCZ is on the new virtual reality board here. If that link doesn't work try this: http://investorshub.advfn.com/Virtual-Reality-Opportunities-in-Microcaps-30728/ Otherwise, click on my signature below to get to it.
I made some good money trading this stock a couple years back. Why the drop in the pps??? Thank you ahead of time.
Chart is looking very good here........
The Transfer Agent (Computershare) doesn't seem to be familiar with requests for information about share structure. How can I find out the float? Does anybody here know?
Down on heavy volume. Lets see where this ends up.
MadCatz cutting a third of staff after 'Rock Band 4' flop
37 percent of workforce will be laid off as key execs resign.
http://www.engadget.com/2016/02/10/madcatz-rock-band-4-layoffs/
Peripheral maker Mad Catz has posted yet another disappointing financial report, sparking executive resignations and major layoffs. The filing is the first full quarter since Rock Band 4 was released last year, and the game helped sales increase to $65 million, 114 percent higher than the year before.
Mad Catz had banked on Rock Band 4 being a big success, though, and despite a broadly positive reaction from critics, sales are lower than originally forecast. It expected profits to increase significantly due to the games' release (albeit with lower margins), but instead they dropped from $1.36 million to $1.22 million year-over-year.
The night before the earnings release was due, three key executives -- the CEO, chairman and vice president of business affairs -- all resigned. The company will now reduce its entire workforce by 37 percent.
Mad Catz® Reports Fiscal 2016 Third Quarter Financial Results and Announces Adoption of Restructuring Plan
http://ih.advfn.com/p.php?pid=nmona&article=70308450&symbol=MCZ
Tuesday 9 February 2016
Mad Catz Interactive, Inc. (“Mad Catz” or the “Company”) (NYSE MKT:MCZ) (TSX:MCZ), today announced financial results for the fiscal 2016 third quarter ended December 31, 2015. Mad Catz also announced the adoption of a Company-wide restructuring plan that includes several executive level and Board of Directors changes as specified in the Company’s previous announcement dated February 8, 2016.
Key Highlights of Fiscal 2016 Third Quarter and Subsequent:
Fiscal 2016 third quarter net sales increased 114% to $65.0 million, the second highest quarterly net sales in the Company’s history;
Net sales growth driven by a 391% increase in net sales to the Americas, partially offset by a 6% decrease in net sales to EMEA and a 56% decrease in net sales to APAC;
Gross margin declined to 17.5% from 26.9% in the prior year quarter;
Total operating expenses increased 44% from the prior year period to $8.6 million;
Operating income increased 28% to $2.8 million;
Diluted net income per share was $0.02 for the fiscal 2016 third quarter, consistent with the prior year;
Net position of bank loans, less cash and restricted cash, of $17.7 million at December 31, 2015, compared to $12.7 million at September 30, 2015 and $10.7 million at December 31, 2014;
Sold no shares under the “At-the-Market” (“ATM”) equity offering program;
Shipped F.R.E.Q.TE™ 7.1 surround sound gaming headset for Windows PC;
Announced the Tritton Katana HD 7.1 surround sound gaming headset, a 2016 CES Innovation Award Honoree and the First HDMI™-powered gaming headset for gaming consoles, Windows PC, smart devices and HDMI audio sources;
Announced the R.A.T. 1 gaming mouse, a 2016 CES Innovation Award Honoree;
Shipped the stand-alone Rock Band™ 4 Wireless Fender™ Stratocaster™ Guitar Controller and the stand-alone Rock Band™ 4 Triple Cymbals Expansion Kit;
Announced new range of Street Fighter™ V licensed controllers, including fightsticks, Tournament Edition fightsticks and fightpad controllers;
Announced the E.S. PRO1™ Gaming Earbuds specifically designed for eSports gamers;
Announced that the Company will be the first to offer traditional video game controller hardware for the “Designed for Samsung” program;
Announced executive level and Board of Directors changes including the departure of Chairman of the Board, Thomas Brown; President and CEO, Darren Richardson; SVP Business Affairs, General Counsel and Secretary, Whitney Peterson; and, the appointment of John Nyholt as Chairman of the Board; Karen McGinnis as President, CEO and member of the Board of Directors; David McKeon as CFO; Tyson Marshall as General Counsel and Secretary; and Andrew Young as Chief Technology Officer; and,
The Board of Directors approved a restructuring plan focused on lowering operating costs, increasing efficiencies and better aligning the Company’s resources with its needs and goals.
Summary of Financials
(in thousands, except margins and per share data)
Three Months Nine Months
Ended December 31, Ended December 31,
2015 2014 Change 2015 2014 Change
Net sales $ 65,038 $ 30,451 114 % $ 116,930 $ 69,665 68 %
Gross profit 11,405 8,178 39 % 23,289 19,972 17 %
Total operating expenses 8,584 5,971 44 % 23,371 19,320 21 %
Operating income (loss) 2,821 2,207 28 % (82 ) 652 (113 %)
Net income (loss) 1,219 1,358 (10 %) (4,357 ) (809 ) 439 %
Net income (loss) per share, basic and diluted $ 0.02 $ 0.02 0 % $ (0.06 ) $ (0.01 ) 500 %
Gross margin 17.5 % 26.9 % (940) bps 19.9 % 28.7 % (880) bps
Adjusted EBITDA (1) $ 2,950 $ 2,713 9 % $ 1,276 $ 2,156 (41 %)
Definitions, disclosures and reconciliations regarding non-GAAP financial information are included on page 8.
Commenting on the Company’s fiscal 2016 third quarter results, Karen McGinnis, President and Chief Executive Officer of Mad Catz, said, “Our quarterly net sales were the second highest in the Company’s history reflecting strong Rock Band 4 sales, which were partially offset by continuing softness in sales of our audio and PC gaming products. However, Rock Band sell-through was lower than originally forecast resulting in higher inventory balances as well as lower margins due to increased promotional activity with retailers. Looking ahead, we are confident in our ability to further monetize our diverse range of products and are focused on updating and improving many of our product offerings to better leverage the opportunities we see ahead.”
Summary of Key Sales Metrics
Three Months Nine Months
Ended December 31, Ended December 31,
(in thousands) 2015 2014 Change 2015 2014 Change
Net Sales by Geography
Americas $ 47,002 $ 9,573 391 % $ 79,003 $ 22,281 255 %
EMEA 16,702 17,825 (6 %) 32,000 37,104 (14 %)
APAC 1,334 3,053 (56 %) 5,927 10,280 (42 %)
$ 65,038 $ 30,451 114 % $ 116,930 $ 69,665 68 %
Sales by Platform as a % of Gross Sales
Next gen consoles (a) 79 % 21 % 71 % 19 %
PC and Mac 14 % 43 % 19 % 44 %
Universal 5 % 25 % 6 % 23 %
Smart devices 2 % 5 % 3 % 8 %
Legacy consoles (b) - % 6 % 1 % 6 %
100 % 100 % 100 % 100 %
Sales by Category as a % of Gross Sales
Specialty controllers 72 % 22 % 67 % 23 %
Audio 16 % 47 % 18 % 43 %
Mice and keyboards 6 % 23 % 8 % 23 %
Accessories 4 % 4 % 3 % 4 %
Games and other 1 % - % 2 % 1 %
Controllers 1 % 4 % 2 % 6 %
100 % 100 % 100 % 100 %
Sales by Brand as a % of Gross Sales
Mad Catz 78 % 34 % 72 % 34 %
Tritton 15 % 44 % 17 % 39 %
Saitek 6 % 17 % 9 % 18 %
Other 1 % 5 % 2 % 9 %
100 % 100 % 100 % 100 %
(a) Includes products developed for Xbox One, PlayStation 4 and Wii U.
(b) Includes products developed for Xbox 360, PlayStation 3 and Wii.
Restructuring Plan
On February 5, 2016, the Company’s Board of Directors approved a restructuring plan focused on lowering operating costs, increasing efficiencies and better aligning its workforce with the needs of the business. The plan consists of a reduction in the number of positions across the organization equal to approximately 37% of the total workforce and includes changes at the executive level. As a result of these actions, the Company expects to record a pre-tax cash restructuring charge of approximately $3.0 million during the fourth quarter of fiscal 2016, comprised primarily of severance and benefits afforded to terminated employees and executive officers (inclusive of amounts due Messrs. Richardson and Peterson pursuant to their amended and restated employment agreements, dated as of April 22, 2014). The Company anticipates that the actions associated with these headcount reductions will be substantially completed by the end of the fourth quarter of fiscal 2016, and that these actions will result in annual savings in excess of $5.0 million starting in the first quarter of fiscal 2017.
In addition and as announced yesterday on February 8, 2016, the Company’s Board of Directors approved several changes to its executive leadership team and Board of Directors composition, effective immediately. Those changes include:
Departures
Thomas Brown resigned from the Company’s Board, including from his roles as Chairman of the Board and member of the Audit Committee;
Darren Richardson agreed to resign from his position as President and Chief Executive Officer of the Company and as a member of the Company’s Board of Directors; and,
Whitney Peterson agreed to resign from his position as Senior Vice President of Business Affairs, General Counsel, and Corporate Secretary of the Company.
Appointments
Mr. John Nyholt as Chairman of the Board. Mr. Nyholt has been a director of the Company since October 2013;
Karen McGinnis as President and Chief Executive Officer and member of the Company’s Board. Ms. McGinnis was previously Chief Financial Officer of the Company;
David McKeon as Chief Financial Officer. Mr. McKeon was previously VP, Corporate Controller of the Company;
Tyson Marshall as General Counsel and Corporate Secretary. Mr. Marshall was previously Associate General Counsel of the Company; and,
Andrew Young as Chief Technology Officer. Mr. Young was previously Vice President, Product Development of the Company.
Ms. McGinnis, added, “Today, we are announcing a restructuring plan that we strongly believe will enable Mad Catz to be more competitive and increase our focus on operational, technological and commercial actions that will help us achieve our long-term vision. These changes will allow us to operate more effectively and help create an organization that is more agile, able to pursue growth and regain share in our core markets by simplifying our processes and reducing our operating costs, thus increasing our competitiveness and profitability without compromising the quality of our product offering. This realignment of our resources will also enable us to better support strategic initiatives that will make our product slate more competitive, help us gain added consumer interest and create sustainable shareholder value.
“In closing, I’d like to recognize the tremendous value that Thomas, Darren and Whitney have brought to Mad Catz during their tenure, thank them for their many contributions throughout the years and wish them the very best.”
The Company will host a conference call and simultaneous webcast on February 9, 2016, at 5:00 p.m. ET, which can be accessed by dialing (212) 231-2927. Following its completion, a replay of the call can be accessed for 30 days at the Company's Web site (www.madcatz.com, select “About Us/Investor Relations”) or via telephone at (800) 633-8284 (reservation #21804861) or, for International callers, at (402) 977-9140.
About Mad Catz
Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT:MCZ) (TSX:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows® PC and Mac® computers, smart phones, tablets and other mobile devices. Mad Catz distributes its products through its online store as well as distribution via many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company’s website at www.madcatz.com.
Social Media
https://www.facebook.com/MadCatz.Global
http://twitter.com/MadCatz
http://www.youtube.com/MadCatzCompany
Safe Harbor
Information in this press release that involves the Company's expectations business prospects, plans, intentions or strategies regarding its future are forward-looking statements that are not facts and that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause the Company’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release are the following: continuing demand by consumers for videogames and accessories; continued financial viability of our largest customers; the ability to maintain or renew the Company's licenses; competitive developments affecting the Company's current products; first-party price reductions; availability of capital under our credit facilities; ability to timely execute the restructuring plan in a manner that will positively impact our financial condition and results of operations and not disrupt our business operations; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; unanticipated product delays; or a downturn in the market or industry. A further list and description of these and other factors, risks, uncertainties and other matters can be found in the Company's most recent annual report, and any subsequent quarterly reports, filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators. The forward-looking statements in this release are based upon information available to the Company as of the date of this release, and the Company assumes no obligation to update any such forward-looking statements as a result of new information or future events or developments, except as may be require by applicable law. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of the Company and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
Consolidated Statements of Operations
(in thousands, except share and per share data)
(Unaudited)
Three Months Nine Months
Ended December 31, Ended December 31,
2015 2014 2015 2014
Net sales $ 65,038 $ 30,451 $ 116,930 $ 69,665
Cost of sales 53,633 22,273 93,641 49,693
Gross profit 11,405 8,178 23,289 19,972
Operating expenses:
Sales and marketing 4,865 2,673 12,038 8,562
General and administrative 2,600 2,337 8,132 8,210
Research and development 1,007 852 2,869 2,220
Amortization of intangible assets 112 109 332 328
Total operating expenses 8,584 5,971 23,371 19,320
Operating income (loss) 2,821 2,207 (82 ) 652
Other expense:
Interest expense, net (657 ) (238 ) (1,278 ) (563 )
Foreign currency exchange loss, net (657 ) (83 ) (750 ) (500 )
Change in fair value of warrant liabilities 1,200 1 283 56
Other income 18 13 40 92
Total other expense (96 ) (307 ) (1,705 ) (915 )
Income (loss) before income taxes 2,725 1,900 (1,787 ) (263 )
Income tax expense (1,506 ) (542 ) (2,570 ) (546 )
Net income (loss) $ 1,219 $ 1,358 $ (4,357 ) $ (809 )
Net income (loss) per share:
Basic $ 0.02 $ 0.02 $ (0.06 ) $ (0.01 )
Diluted $ 0.02 $ 0.02 $ (0.06 ) $ (0.01 )
Shares used in per share computations:
Basic 73,469,571 64,488,798 73,469,571 64,240,446
Diluted 73,902,905 64,644,470 73,469,571 64,240,446
Consolidated Balance Sheets
(in thousands)
(Unaudited)
December
31, March
31,
2015 2015
ASSETS
Current assets:
Cash $ 3,986 $ 5,142
Restricted cash 5,780 -
Accounts receivable, net 26,944 7,823
Other receivables 1,384 560
Inventories 27,738 15,479
Deferred tax assets 169 2,245
Income taxes receivable 341 967
Prepaid expenses and other current assets 2,707 1,293
Total current assets 69,049 33,509
Deferred tax assets 7,585 7,605
Other assets 606 418
Property and equipment, net 3,682 3,376
Intangible assets, net 2,377 2,584
Total assets $ 83,299 $ 47,492
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Bank loans $ 27,502 $ 7,920
Accounts payable 28,351 16,404
Accrued liabilities 12,778 4,196
Notes payable 637 1,015
Income taxes payable 536 141
Total current liabilities 69,804 29,676
Notes payable, less current portion 158 36
Warrant liabilities 904 1,187
Deferred tax liabilities 43 43
Deferred rent 691 762
Total liabilities 71,600 31,704
Shareholders' equity:
Common stock 63,485 63,128
Accumulated other comprehensive loss (5,212 ) (5,123 )
Accumulated deficit (46,574 ) (42,217 )
Total shareholders' equity 11,699 15,788
Total liabilities and shareholders' equity $ 83,299 $ 47,492
Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
Nine Months
Ended December 31,
2015 2014
Cash flows from operating activities:
Net loss $ (4,357 ) $ (809 )
Adjustments to reconcile net loss to net cash
used in operating activities:
Depreciation and amortization 1,711 1,549
Accrued and unpaid interest expense on note payable - 10
Amortization of deferred financing fees 262 57
Loss on disposal of assets 4 8
Stock-based compensation 357 376
Change in fair value of warrant liabilities (283 ) (56 )
Provision for deferred income taxes 2,096 114
Changes in operating assets and liabilities:
Accounts receivable (19,150 ) (7,314 )
Other receivables (825 ) 511
Inventories (12,277 ) (1,460 )
Prepaid expenses and other current assets (1,168 ) (49 )
Other assets 114 36
Accounts payable 12,031 2,585
Accrued liabilities 8,698 (292 )
Deferred rent (71 ) 553
Income taxes receivable/payable 1,019 (50 )
Net cash used in operating activities (11,839 ) (4,231 )
Cash flows from investing activities:
Purchases of intangible assets (125 ) -
Purchases of property and equipment (1,600 ) (1,604 )
Net cash used in investing activities (1,725 ) (1,604 )
Cash flows from financing activities:
Borrowings on bank loans 103,629 53,839
Repayments on bank loans (84,047 ) (44,824 )
Payment of financing fees (818 ) (50 )
Changes in restricted cash (5,780 ) -
Borrowings on notes payable 95 -
Repayments on notes payable (501 ) (791 )
Proceeds from exercise of stock options - 236
Payment of expenses related to issuance of common stock (164 ) -
Net cash provided by financing activities 12,414 8,410
Effects of foreign currency exchange rate changes on cash (6 ) (181 )
Net increase in cash (1,156 ) 2,394
Cash, beginning of period 5,142 1,496
Cash, end of period $ 3,986 $ 3,890
Supplementary Data
Adjusted EBITDA (Loss) Reconciliation (non-GAAP)
(in thousands)
(Unaudited)
Three Months Nine Months
Ended December 31, Ended December 31,
2015 2014 2015 2014
Net income (loss) $ 1,219 $ 1,358 $ (4,357 ) $ (809 )
Adjustments:
Depreciation and amortization 673 440 1,711 1,536
Stock-based compensation 95 136 357 376
Change in fair value of warrant liabilities (1,200 ) (1 ) (283 ) (56 )
Interest expense, net 657 238 1,278 563
Income tax expense 1,506 542 2,570 546
Adjusted EBITDA $ 2,950 $ 2,713 $ 1,276 $ 2,156
Adjusted EBITDA, a non-GAAP (“Generally Accepted Accounting Principles”) financial measure, represents net income (loss) before interest, taxes, depreciation and amortization, stock-based compensation and change in the fair value of warrant liabilities. Adjusted EBITDA is not intended to represent cash flows for the period, nor is it being presented as an alternative to operating or net income (loss) as an indicator of operating performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. As defined, Adjusted EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the method of calculation. Our management believes, however, that in addition to the performance measures found in our financial statements, Adjusted EBITDA is a useful financial performance measurement for assessing our Company’s operating performance. Our management uses Adjusted EBITDA as a measurement of operating performance in comparing our performance on a consistent basis over prior periods, as it removes from operating results the impact of our capital structure, including the interest expense resulting from our outstanding debt, and our asset base, including depreciation and amortization of our capital and intangible assets. In addition, Adjusted EBITDA is an important measure for our lender.
Contact:
David McKeon
Chief Financial Officer
Mad Catz Interactive, Inc.
dmckeon@madcatz.com or (858) 790-5045
Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
mcz@jcir.com or (212) 835-8500
Certain to be bleak news after the bell.
Mad Catz Interactive (MCZ)
0.2803 ? -0.009 (-3.11%)
Volume: 319,726 @ 10:41:43 AM ET
Bid Ask Day's Range
- - 0.25 - 0.3
MCZ Detailed Quote Wiki
Rock Band 4 Co-Publisher Mad Catz Sees CEO And Board Chairman Depart One Day Before Earnings Report
News
http://www.gameinformer.com/b/news/archive/2016/02/08/rock-band-4-co-publisher-mad-catz-sees-ceo-and-board-chairman-depart-one-day-before-earnings-report.aspx?utm_source=dlvr.it&utm_medium=twitter
by Mike Futter on February 08, 2016 at 01:10 PM
528 Views
Mad Catz will be announcing its third quarter earnings for the current fiscal year tomorrow. Today, the company has announced the departure of its CEO and Chairman.
Thomas Brown has resigned as Chairman and will be replaced by John Nyholt. Nyholt has been a member of the Board of Directors since October 2013.
CEO Darren Richardson has also tendered his resignation from his executive post and from the board. He is replaced by former chief financial officer Karen McGinnis.
Additionally, the company’s general counsel and corporate secretary Whitney Person has resigned. He is replaced by Tyson Marshall, who was previously associate general counsel.
Mad Catz bet on Rock Band 4, co-publishing with Harmonix and taking on the hardware distribution. The company’s earnings call will take place on February 9 at 5 p.m. Eastern.
Our Take
This is a major leadership turnover, and the timing hints that the gamble on Rock Band 4 and additional debt financing has not paid off. When we covered the company’s debt warning in July 2015, we indicated that Rock Band 4 needed to hit big with new hardware sales. This signals that the bet may not have paid off.
The company has been posting operating losses since 2011, with recovery slow. If that trend slipped back, the gamble very well could have cost top leadership their jobs.
Email the author Mike Futter, or follow on Google+, Twitter, and Game Informer.
Yeah 20 years if I remember correctly.
Richardson's departure is huge. Been there forever.
Yeah they were supposed to report .08 tomorrow for the 3rd q and estimates are .04 for the 4th q. I guess resignations means that isn't going to happen. Tough market. Even if you spend months trying to take advantage of a supposed known happening it blows up in my face.
Mad Catz Interactive, Inc. (MCZ) Scheduled to Post Earnings on Tuesday
February 8th, 2016 - By Samantha Reynolds - 0 comments
Mad Catz Interactive logoMad Catz Interactive, Inc. (NYSEMKT:MCZ) is scheduled to post its Q316 quarterly earnings results on Tuesday, February 9th. Analysts expect Mad Catz Interactive to post earnings of $0.08 per share and revenue of $91.00 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Mad Catz Interactive (NYSEMKT:MCZ) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.01. The firm earned $38.90 million during the quarter, compared to the consensus estimate of $28.98 million.
Shares of Mad Catz Interactive, Inc. (NYSEMKT:MCZ) opened at 0.389 on Monday. Mad Catz Interactive, Inc. has a 52 week low of $0.29 and a 52 week high of $0.75. The company has a market cap of $28.58 million and a PE ratio of 48.625. The stock’s 50 day moving average price is $0.38 and its 200-day moving average price is $0.48.
Mad Catz Interactive, Inc designs, manufactures (NYSEMKT:MCZ), markets and distributes interactive entertainment products. The Company markets its products under its Mad Catz (gaming), Tritton (audio), and Saitek (simulation) brands.
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Resignations. I have no idea. I can only assume tomorrows results aren't going to be as good as originally expected.
yes on dat stuff, any reason why ?????
MCZ: Mad Catz® Announces Executive and Board Leadership Changes
Globe Newswire
February 08, 2016: 01:13 PM ET
SAN DIEGO, Feb. 08, 2016 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. (“Mad Catz” or the “Company”) (NYSE MKT:MCZ) (TSX:MCZ), today announced several changes to its executive leadership and Board of Directors, effective immediately.
On February 5, 2016, Mr. Thomas Brown resigned from the Company’s Board of Directors, including from his role as Chairman and from his position as a member of the Board’s Audit Committee. The Company’s Board of Directors has named Mr. John Nyholt as Chairman. Mr. Nyholt has been a director of the Company since October 2013.
In addition, the Company’s Board of Directors accepted the resignation of Mr. Darren Richardson from his position as President and Chief Executive Officer and from his seat as a member of the Company’s Board of Directors. Ms. Karen McGinnis, previously the Company’s Chief Financial Officer, has been named President and Chief Executive Officer of Mad Catz and has been appointed to the Company’s Board of Directors.
Replacing Ms. McGinnis, Mr. David McKeon has been appointed Chief Financial Officer. Mr. McKeon previously served as the Company’s Vice President, Corporate Controller.
Further, Mr. Whitney Peterson has resigned as the Company’s Senior Vice President of Business Affairs, General Counsel and Corporate Secretary. He was replaced as General Counsel and Corporate Secretary by Mr. Tyson Marshall, who previously served as Mad Catz’ Associate General Counsel. The Company also named Mr. Andrew Young to the newly created position of Chief Technology Officer. Mr. Young previously served as Vice President, Product Development at Mad Catz.
Ms. Karen McGinnis, commented, “We recognize the tremendous value that Thomas, Darren and Whitney have brought to Mad Catz during their tenure and thank them for their many contributions throughout the years.”
“Looking ahead, we are confident that we have a talented leadership team in place that will enable us to steer the Company on a steady course in its operations and financial performance as we look to grow our business and reward our shareholders.”
As previously announced, the Company will issue its fiscal 2016 third quarter results following the market close on February 9, 2016, and will host a conference call and simultaneous webcast to discuss the results at 5:00 p.m. ET. The call can be accessed by dialing (212) 231-2927.
About Mad Catz
Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT:MCZ) (TSX:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows® PC and Mac® computers, smart phones, tablets and other mobile devices. Mad Catz distributes its products through its online store as well as distribution via many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company’s website at www.madcatz.com.
Social Media
https://www.facebook.com/MadCatz.Global
http://twitter.com/MadCatz
http://www.youtube.com/MadCatzCompany
Safe Harbor
Information in this press release that involves the Company's expectations business prospects, plans, intentions or strategies regarding its future are forward-looking statements that are not facts and that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause the Company’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release are the following: continuing demand by consumers for videogames and accessories; continued financial viability of our largest customers; the ability to maintain or renew the Company's licenses; competitive developments affecting the Company's current products; first-party price reductions; availability of capital under our credit facilities; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; unanticipated product delays; or a downturn in the market or industry. A further list and description of these and other factors, risks, uncertainties and other matters can be found in the Company's most recent annual report, and any subsequent quarterly reports, filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators. The forward-looking statements in this release are based upon information available to the Company as of the date of this release, and the Company assumes no obligation to update any such forward-looking statements as a result of new information or future events or developments, except as may be require by applicable law. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of the Company and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
Contact:
David McKeon
Chief Financial Officer
Mad Catz Interactive, Inc.
dmckeon@madcatz.com or (858) 790-5045
Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
Halted. Good or bad? We will find out. Fingers crossed.
Mad Catz Interactive (MCZ)
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MCZ is about to get interesting. IMO
thank you my friend/ Mad Catz Interactive (MCZ)
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MCZ: Mad Catz: VR is driving a huge surge in the sales of flight sticks
http://www.polygon.com/2016/1/7/10733116/mad-catz-vr-is-driving-a-huge-surge-in-the-sales-of-flight-sticks
Everyone wants to be in space
By Ben Kuchera on Jan 07, 2016 at 5:15p
Mad Catz, the gaming peripheral company that owns flight stick manufacturer Saitek, creates a wide range of products at a variety of price points, but the Saitek X-52 was the company's biggest hit of last year.
That's a surge that Alex Verrey, Global PR director for Mad Catz, attributes to space games and virtual reality.
"Last year, through most of last year? The HOTAS [Hands-on throttle and stick] system was the best selling product of the company," he told Polygon. "That's because of Elite Dangerous and Star Citizen and the whole VR thing. We literally couldn't make them fast enough."
I wanted to be clear: They think this sales boost is due to VR? "There's no doubt, absolutely I believe that. No doubt," Verrey said. And they're chasing that market aggressively. There is a range of products aimed at Elite Dangerous, and the X-52 model is actually in the game.
"We have the X-52 coded into the game so when you look down you have the full graphical representation [of the controller]," Verrey said. "They've coded it into the game. You can see the controls. We have an exclusive range of Star Citizen hardware hitting later this year, and that's looking super cool. It's taking our HOTAS products and adapting them specifically for Star Citizen."
This all adds up to a big push for flight sticks in VR games. "The surge in VR is absolutely impacting our sales," Verrey said. He said that HTC is using the flight sticks to demo the Vive at CES, and Saitek had Frontier, the developer of Elite Dangerous, at its booth at other shows demoing the game.
What's interesting about this trend is that there are so few Oculus Rift development kits in the wild, compared to standard gaming hardware. But many people with the dev kits are upgrading their systems to include a full flight stick.
"Our partners are flocking to purchase them for development kits," Verrey said. "We're seeing a huge surge in sales. It's great."
Another surprising hit? The Farm Simulator products Saitek released earlier this year. So, of course, Verrey wants the game to come to VR.
farm simulator ces
"They have absolutely proven so ultra-successful for us ... better than I think anybody could have imagined. Wouldn't it be great if they coded that into VR? You can put on your Rift and be on that tractor, and be on that farm. And then we can code the Farm Simulator hardware into the game as well.
"We have this whole community that likes to farm!" Verrey said.
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[CES2016] Mad Catz will be showing off Samsung device specific controllers
http://www.droidgamers.com/index.php/game-news/hardware-a-devices/10477-ces2016-mad-catz-will-be-showing-off-samsung-device-specific-controllers
Squeeze and Chart Bottom..setting up nice..
SAN DIEGO, Dec. 3, 2015 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. ("Mad Catz") (NYSE MKT:MCZ) (MCZ) announced today a new range of Street Fighter V licensed fighting game controllers through its licensing agreement with Capcom(R). Scheduled to coincide with the game's launch on the PlayStation 4 computer entertainment system, the all-new Street Fighter V range includes FightSticks, Tournament Edition FightSticks and FightPad controllers.
The company also announced they will begin taking pre-orders for this new range of controllers in conjunction with its public debut, Saturday, December 5th at the 'PlayStation(R) Experience' event in San Francisco, CA.
Starting to accumulate MCZ. I suspect it will be trading much higher by the time Feb 5th rolls around and then the subsequent 3rd q report and earnings pr could create a buying frenzy.
The chart from Late 2010 early 2011 tells the story. This was when they released the first version of Rock Band.
thank you/ Mad Catz Interactive (MCZ)
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