Darren Richardson, CEO of Mad Catz Interactive, bought 20,000 shares of Mad Catz Interactive (MCZ: 20,000) at 0.43 per share for a total amount of $8,600 on 02-11-2014.
Mad Catz Interactive is based in San Diego, CA.
On 1/31/2014, Mad Catz Interactive announced the resignation of William Woodward from the Company’s Board of Directors (“Board”). Mr. Woodward also was a member of the Board’s Audit Committee and a key supporter of the Company’s growth and more sophisticated product mix. Mr. Woodward resigned from the Board for personal reasons and his decision was not the result of any disagreement with the Company or the Board. The Company greatly appreciates Mr. Woodward’s service and contributions as a member of the Board and its Audit Committee over the last seven years and wishes him the very best in his future endeavors.
On 2/06/2014, Mad Catz Interactive announced its latest quarterly results. Net sales in the quarter declined 27% to $32.9 million, with the Company’s European sales down 9% and sales to North America and APAC down 48% and 27%, respectively. Gross margin was 24.1%, compared to 28.7% in the third quarter last year. Total operating expenses decreased 20% year-over-year to $7.0 million. Net position of bank loan, less cash, was $11.1 million at December 31, 2013, compared to $6.1 million at March 31, 2013 and $13.5 million at December 31, 2012.
According to Capital IQ, Mad Catz Interactive has a market cap of $29.56 million, an enterprise value of $38.58 million.
Mad Catz Interactive, Inc. designs, manufactures, markets, sells, and distributes accessories for videogame platforms, personal computers (PC) and Mac, smart phones, and other smart devices. Its products include videogame, PC, and audio accessories, such as control pads, video cables, steering wheels, joysticks, memory cards, flight sticks, dance pads, microphones, car adapters, carry cases, mice, keyboards, and headsets; and chess and intelligent games comprising primarily chess and related accessories. The company also develops flight simulation software through its internal ThunderHawk Studios; publishes videogames; and distributes videogames of third party publishers. The company markets its products principally under the Mad Catz, Saitek, Tritton, and AirDrives brands, as well as produces and markets products on private labels. Mad Catz Interactive, Inc. sells its products through videogame and consumer accessories retailers in the United States, Europe, and Canada, as well as in Australia, Japan, China, Taiwan, Korea, Mexico, New Zealand, and Singapore. The company was founded in 1989 and is headquartered in San Diego, California.
Darren Richardson’s most recent annual compensation from Mad Catz Interactive is a salary of $410,597, $227.499 in other compensation, and a total compensation of $638,096. Mr. Richardson is 52 years old.
According to his biography, Mr. Richardson is President, Chief Executive Officer and Director of Mad Catz Interactive, Inc. Mr. Richardson has been President and Chief Executive Officer of the Company since April 1, 2004, and a director of the Company since 2005. Prior to his appointment as President and Chief Executive Officer, Mr. Richardson served as Executive Vice President of the Company since October 1997 and as President and Chief Operating Officer of Mad Catz, Inc. since September 1999. Mr. Richardson served in several senior management capacities with Games Trader from 1997 until 1999, including Chief Operating Officer, and Vice President of Business Development, responsible for sales and marketing with a focus on new account development. He holds a Master of Business Administration degree from Trinity College, Dublin, and a Bachelor of Commerce degree from the University of Wollongong, Australia.
All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com .
About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.
Recent Comments