Mad Catz enjoys record year

Peripherals vendor, Mad Catz, has achieved record sales for the year ended March 21, 2010.

The vendor recorded record net sales of $US119.0 million, a 5.7 per cent increase from $112.6 million in the previous yes. Gross profit also increase by 13.7 percent to a record $36.4 million.

Xbox 360 products accounted for the most sales at 31 per cent of total sales for the year, with PC (22 per cent) and PlayStation 3 (17 per cent) following.

In a release, Mad Catz outlined significant developments for the year, including:

Signing a multi-year licensing agreement with Harmonix Music Systems, a wholly owned subsidiary of Viacom, to serve as the principal peripherals partner for the Rock Band franchise. The agreement gives Mad Catz the international rights to produce and distribute Rock Band music videogame controllers for future iterations of Rock Band;

Acquiring TRITTON Technologies, a provider of gaming audio headsets, high-performance multimedia consumer electronics and computer peripherals, for $US1 million in cash at closing and a maximum earn-out of $US9 million in cash over five years subject to the sales of TRITTON products. TRITTON's core products, its gaming headsets, operate on all major gaming platforms and include a variety of unique features. TRITTON also offers a line of distinctive USB video products;

Signing an extension of the license agreement with Activision whereby the Company will create accessories related to the next iteration of the Call of Duty videogame franchise, Call of Duty: Black Ops, scheduled to be launched in November 2010; and,

Signing a license agreement with Major League Gaming (MLG) whereby the Company will work with MLG professional gamers to create high-end controllers and fight sticks.