more
This is the reason why I need the game industry to slow down with their releases. I simply don't have enough time to play all that's out there! I'm glad to know that I'm not the only one.
SAN DIEGO --(Business Wire)-- Mad Catz Interactive, Inc. (NYSEAmex/TSX: MCZ): Conference Call: Today, February 9, 2010 at 5:00 p.m. EST Dial-in Numbers: (212) 231-2904 (U.S. & International) Webcast: www.madcatz.com (Select "Investors") Replay Information: See release text Mad Catz Interactive, Inc. ("Mad Catz" or "the Company") (NYSEAmex/TSX: MCZ), a leading third-party interactive entertainment accessory provider, today announced financial results for its fiscal third quarter ended December 31, 2009.
Mad Catz reported net sales for the quarter ended December 31, 2009 of $48.8 million, an increase of 19% from third quarter net sales of $40.8 million in fiscal 2009 and the second-best quarter of sales in the Company's history. Net sales in North America, the Company's largest market, totaled $24.6 million, while net sales to Europe increased to a record $23.0 million for the fiscal 2010 third quarter. Gross profit of $15.9 million in the fiscal 2010 third quarter represented an increase of 51% from $10.5 million in the same quarter of the prior year, primarily due to a shift in the Company's product mix and a return to more normal levels of reserves as a percentage of sales as compared to last year's period of unusual economic uncertainty. Gross profit margin improved by nearly 7 percentage points to 33% from 26% in the year-ago quarter.
Excluding the $28.5 million goodwill impairment charge taken in the third quarter of fiscal 2009, total operating expenses in the third quarter of fiscal 2010 decreased by 2% to $8.3 million, resulting in operating income of $7.6 million for the quarter, compared to operating income of $2.1 million in the year ago period. In the first nine months of fiscal 2010, Mad Catz reduced its total operating expenses by approximately 16%, or $4.2 million, compared to the first nine months of the prior fiscal year when excluding the goodwill impairment charge taken in the year-ago period. The Company had a foreign exchange gain of $0.1 million for the third quarter of fiscal 2010, compared to a $1.0 million gain in the prior year's fiscal third quarter. Reflecting income tax expenses of $1.6 million, Mad Catz reported record quarterly net income of $5.6 million in the quarter ended December 31, 2009, or $0.09 per diluted share - also a quarterly record - compared to a net loss of $26.9 million, or a loss of $0.49 per diluted share after income tax expenses of $1.1 million in the third quarter of the prior fiscal year.
"Because the cost of making games has more than doubled this cycle, the risk of failure is much greater, and the publishers are constantly looking for the right 'window' in which to release their games. ...quite similar to the year-round big releases we see from movie studios." - Michael Pachter, analyst
Game makers are realizing now that they can put out strong titles at different release windows and actually make a profit on them. This is definitely going to help the holiday season as we continue on. This most recent holiday season was certainly different, and I expect it will continue on.
Do you have a grandpa that plays video games? I certainly don't and I never did! You guys might be in a different situation though. Some grandpas might like to game, but today's gaming situation is a lot different from what it was 20 years ago. How can a gaming grandpa actually get into what kids are younger gamers are playing today? Perhaps some advice from today's gamers will help.
A portion of an Aussie-Nintendo review...
Deep Silver knew they'd made a mistake by not including a digital Russell Grant (ala Brain Training's Professor Kawashima), as this was eventually released in Australia simply as Astrology. Still, this UK import was worth the massive $9 asking price, if only for the cover. Wait, no it wasn't.
I don't know that Nintendo of America will be too happy with IGN, but that's not for us to worry about! IGN has just confirmed that Nintendo of America is going to hold a media summit on February 24th, which puts it nicely in line with what's happening in Europe. What is the big N going to talk about? No word on those specifics, but there will be presentations and demos for those on-hand to check out. Thanks to DSKartMasta for the heads up!
A portion of a 1up review...
Shiren does a great job of straddling the divide between accessibility and challenge, presenting a roguelike experience that may well appeal to any RPG fan. Or at least, any RPG fan willing to give it a chance. Maybe this franchise (and genre) are destined to remain a niche, but at least devotees of this niche are being treated well.
SEGA® of America, Inc. and SEGA® Europe Ltd. are excited to announce that two-time Grammy-nominated heavy metal superstars Lamb of God are creating an exclusive song for the upcoming blockbuster title – Iron Man 2: The Video Game. The all-new song serves as the perfect complement to the non-stop super-powered action of the game on the Xbox 360® video game and entertainment system from Microsoft, PlayStation®3 computer entertainment system, PSP® (PlayStation®Portable) system, and Wii™ video game system. Iron Man 2: The Video Game will be in- stores across North America on May 4th, 2010.
A third-person action-adventure shooter, Iron Man 2: The Video Game teams the finesse of Iron Man with the brute strength of War Machine, who makes his grandest appearance as a playable character in any video game to date. The game is based on the cinematic universe featured in Marvel Studios’ Iron Man 2, in theaters beginning May 7, 2010 and features an original story written with the help of Eisner-award-winning Iron Man comic author Matt Fraction, that introduces players to popular Marvel Super Villains exclusive to the game, such as Crimson Dynamo.