Mad Catz Q3: profit and revenue well down

Mad Catz has reported a nasty three months ending December 31, showing revenue down to $46.2 million from $93 million year-over-year. Profits decreased to $11.2 million, down from $26.4 million in Q3 2010.

As reported by Gama, the lack of game-specific peripheral in the period was blamed for the drops.

"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 Mad Catz CEO Darren 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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