Accessories maker Mad Catz has seen revenues increase by 19 per cent in its third quarter, with Christmas 2009 sales the second best in the company's history.
The owner of the Saitek and Joytech brands reported net sales of $48.8 million for the three months ended December 31, up from $40.8 million at the same time in 2008.
North American sales experienced a small decrease of 1 per cent to $24.6 million, while net sales in Europe rose by 58 per cent to a record $23.0 million. Net income also hit record amounts, with a $5.6 million profit compared to the previous year's loss of $26.9 million.
The company claims to be ahead of schedule in its drive to reduce sales, general and administrative expenses by at least 10 per cent. It has also attributed the improvement to high profile tie-ins to prominent titles such as Modern Warfare 2 and Street Fighter IV.
"These results reflect our success in aligning the company with some of the industry's most popular and anticipated titles and in bringing high-value products to market that enhance the gaming experience," said president and CEO Darren Richardson.
Over the past few years, we've successfully transitioned Mad Catz's product strategy from a value-oriented console videogame focus to a premium products focus, diversifying both geographically and by expanding to the PC market," he added.
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