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Mad Catz® Announces “Designed for Samsung” Mobile Gaming Products at Mobile World Congress

SAN DIEGO, Feb. 23, 2016 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT:MCZ) (TSX:MCZ), a global provider of innovative entertainment products, today announced the details of its mobile gaming controllers under the Designed for Samsung (“DFS”) Program. As an official partner in the DFS Program, Mad Catz will introduce, alongside the much anticipated debut of the Samsung Galaxy S7™ and Samsung Galaxy S7™ edge smartphones, DFS-compatible versions of its acclaimed Micro C.T.R.L.R™ Mobile Gamepad and S.U.R.F.R™ Wireless Media and Game Controller at the 2016 Mobile World Congress in Barcelona, Spain. With the debut of these products, Mad Catz will become the first company to offer traditional video game controller hardware under the DFS Program. Consumers can expect to unleash the full gaming power of their Samsung® smartphone or tablet with the Mad Catz Micro C.T.R.L.R Mobile Gamepad and streamline command of all of their Android-powered devices with the Mad Catz S.U.R.F.R Wireless Media and Game Controller. Additional shortcut buttons will also be enabled for the latest generation devices. The Micro C.T.R.L.R provides a console-quality gaming experience for mobile devices, ideal for today’s increasingly popular controller-compatible mobile games. Featuring dual analog sticks, a responsive D-Pad, and shoulder and action buttons, the Micro C.T.R.L.R delivers all of the features gamers demand, in a gamepad that’s 20% smaller than a full-sized controller. Three modes of play provide multi-platform accessibility – including mobile gaming, PC gaming and a mouse mode – that enable users to easily navigate on-screen menus. When connected to supported Samsung devices, enhanced features allow gamers to access dedicated controls for recent apps, media and volume as well as navigating on-screen menus. S.U.R.F.R, the ultimate multimedia surfer and game controller from Mad Catz, streamlines command of the Samsung Galaxy S7 and Galaxy S7 edge Smartphones, Tablet or Android-powered media streaming device. Users can now play games, control media, navigate the web and input text, all with one compact device. Featuring true gamepad controls, a full QWERTY keyboard and a full suite of multimedia controls, the S.U.R.F.R puts favorite media right at users’ fingertips. Rigorously tested to meet Samsung performance standards, the S.U.R.F.R includes expanded navigation and shortcut features for supported Samsung devices. With one-touch hot keys, users can access recent apps, search the phone for desired content, access multi-window view, snap a screen capture and more! “Samsung has vastly improved the way Android users connect with one another and utilize their mobile devices and, via this partnership Mad Catz, will provide Samsung Mobile consumers the opportunity to enhance their gaming and multi-media experiences,” said Andrew Young, Chief Technology Officer of Mad Catz. “We are proud to be a part of that ongoing innovation by supporting the DFS Program through our world-class GameSmart™ mobile gaming products.” “With the introduction of the game-changing Samsung Galaxy S7, mobile gaming is poised to experience strong growth as additional mobile games are developed with controller support. Our DFS-enabled GameSmart products, including the Micro C.T.R.L.R and S.U.R.F.R, will deliver features and functionality that take full advantage of Samsung smartphone and tablets, as well as other Bluetooth® enabled connected devices. In addition, the DFS Program will allow us to display a ‘Designed for Samsung’ logo on packaging, helping to communicate to consumers the seamless compatibility between GameSmart products and Samsung smartphones and tablets.” For more information or to pre-order, please visit: www.madcatz.com/DFS About Mad CatzMad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT:MCZ) (TSX:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows PC and Mac® computers, smart phones, tablets and other mobile devices. Mad Catz distributes its products through its online store as well as distribution via many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company’s website at www.madcatz.com Social Mediahttps://www.facebook.com/MadCatz.Global http://twitter.com/MadCatz http://www.youtube.com/MadCatzCompany Cautionary Note Regarding Forward-Looking StatementsInformation in this press release that involves the Company's expectations business prospects, plans, intentions or strategies regarding its future are forward-looking statements that are not facts and that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause the Company’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include the following: the ability to maintain or renew the Company's licenses; competitive developments affecting the Company's current products; first-party price reductions; availability of capital under our credit facility; commercial acceptance of new in-home gaming consoles; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; unanticipated product delays; or a downturn in the market or industry. A further list and description of these and other factors, risks, uncertainties and other matters can be found in the Company's most recent annual report, and any subsequent quarterly reports, filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators. The forward-looking statements in this release are based upon information available to the Company as of the date of this release, and the Company assumes no obligation to update any such forward-looking statements as a result of new information or future events or developments. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of the Company and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations. Mad Catz, the Mad Catz logo, GameSmart, C.T.R.L.R and S.U.R.F.R are trademarks or registered trademarks of Mad Catz Interactive, Inc., its affiliates and/or subsidiary companies. All other marks are the property of their owners.CONTACT: Mad Catz Communications:
Alex Verrey
Global PR and Communications Director
[email protected] or +44 (0) 1633 883 133

Dave McKeon
Chief Financial Officer
[email protected] or +1 (858) 790-5045

Investor Relations:
Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
[email protected] or +1 (212) 835-8500

Mad Catz® Announces Saitek® X-56 Rhino H.O.T.A.S. Advanced Flight Control System™

SAN DIEGO, March 31, 2016 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT/TSX: MCZ), a global provider of innovative entertainment products, today announced the debut of the X-56 Rhino H.O.T.A.S. Advanced Flight Control System™, the Company’s newest addition to its Saitek Pro Flight Range of PC-based simulation accessories. Building on the successful X-55 Rhino™ platform, the X-56 is designed specifically to address the advanced control requirements of the space simulation genre with new features that make spaceflight control more intuitive. With the addition of two analog sticks, one on each controller, the X-56 provides an additional four axes of control – ideal for the 6 degrees of freedom flight dynamics demanded by modern space simulation game titles. Full 16 million RGB color backlighting enables gamers to customize the X-56 to match the rest of their gaming equipment; a feature that is increasingly essential across PC peripherals. Building on the success of the X-55, the new X-56 has been completely re-engineered from the ground up to address feedback received from the simulation community and incorporates new materials, increased switchgear life cycles and new graphics. “The Saitek brand has always sought to deliver product innovation, quality and engagement for the global simulation community,” said Andrew Young, Chief Technology Officer of Mad Catz. “We are proud to continue that tradition and reaffirm our commitment to the PC simulation market and in particular the space simulation genre. While this new segment of the simulation market may be new to many enthusiasts, it is already gaining significant popularity and play.” “Additionally, we believe 2016 will also be a key year for the adoption of virtual reality thanks to the introduction of both the Oculus Rift and the HTC Vive. Our X-56 Rhino directly addresses the needs of this exciting market as its control system is perfectly positioned for use while wearing a VR unit. Ultimately, we are confident that the Saitek X-56 Rhino will offer significant control advantages and greatly enhance the simulation experience for enthusiasts everywhere.” For more information or to pre-order, please visit: www.saitek.com About Mad CatzMad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT/TSX: MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows PC and Mac® computers, smart phones, tablets and other mobile devices. Mad Catz distributes its products through its online store as well as distribution via many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company’s website at www.madcatz.com Social Mediahttps://www.facebook.com/MadCatz.Global http://twitter.com/MadCatz http://www.youtube.com/MadCatzCompany Cautionary Note Regarding Forward-Looking StatementsInformation in this press release that involves the Company's expectations business prospects, plans, intentions or strategies regarding its future are forward-looking statements that are not facts and that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause the Company’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include the following: the ability to maintain or renew the Company's licenses; competitive developments affecting the Company's current products; first-party price reductions; availability of capital under our credit facility; commercial acceptance of new in-home gaming consoles; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; unanticipated product delays; or a downturn in the market or industry. A further list and description of these and other factors, risks, uncertainties and other matters can be found in the Company's most recent annual report, and any subsequent quarterly reports, filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators. The forward-looking statements in this release are based upon information available to the Company as of the date of this release, and the Company assumes no obligation to update any such forward-looking statements as a result of new information or future events or developments. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of the Company and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations. Mad Catz, the Mad Catz logo, Saitek, X-55 RHINO and X-56 RHINO are trademarks or registered trademarks of Mad Catz Interactive, Inc., its affiliates and/or subsidiary companies. All other marks are the property of their owners. CONTACT: Mad Catz Communications:
Dave McKeon
Chief Financial Officer
[email protected] or +1 (858) 790-5045

Investor Relations:
Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
[email protected] or +1 (212) 835-8500

Mad Catz(R) to Report Fiscal 2016 Second Quarter Results on November 5 and Host Conference Call and Webcast

SAN DIEGO, Oct. 28, 2015 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. ("Mad Catz") (NYSE MKT:MCZ) (TSX:MCZ) announced today that it will release its fiscal 2016 second quarter results for the period ended September 30, 2015, after the market closes on Thursday, November 5, 2015, and will host a conference call and webcast at 5:00 p.m. ET that same day. Both the call and webcast are open to the general public.

Time:

Thursday, November 5, 2015, at 5:00 p.m. ET

Dial-in Number:

(303) 223-4376 (U.S. & International)

Webcast:

www.madcatz.com, select "Investor Relations"

Web Replay:

30 days

Call Replay Until

Saturday, December 5, 2015, at 7:00 p.m. ET

Replay Number:

(800) 633-8284 or (402) 977-9140 (International)

Access Code:

21783853

Please call five minutes in advance to ensure that you are connected prior to the start of the call. Questions and answers will be reserved for call-in analysts and institutional investors. For the webcast, please allow 15 minutes to register and download and install any necessary software.

About Mad Catz:

Mad Catz Interactive, Inc. ("Mad Catz") (NYSE MKT:MCZ) (TSX:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows PC and Mac® computers, smart phones, tablets and other mobile devices. Mad Catz distributes its products through its online store as well as distribution via many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company's website at www.madcatz.com

Social Media:

https://www.facebook.com/MadCatz.Global http://twitter.com/MadCatz http://www.youtube.com/MadCatzCompany
CONTACT: Mad Catz:
Mad Catz Interactive, Inc.
Karen McGinnis, CFO
[email protected] or (858) 790-5008

Investor Relations:
Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
[email protected] or (212) 835-8500

2019 Game Developers Choice Awards to Honor Amy Hennig With Lifetime Achievement Award

19th Annual Awards Ceremony to Take Place Wednesday, March 20 at GDC in San Francisco
SAN FRANCISCO, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Organizers of the 19th Annual Game Developers Choice Awards, the premier accolades for peer recognition celebrating the industry’s top games, studios and developers, will be honoring esteemed writer and director Amy Hennig with the Lifetime Achievement Award. The Game Developers Choice Awards ceremony takes place on Wednesday, March 20, 2019 at 6:30pm at the San Francisco Moscone Center during the 2019 Game Developers Conference, and in conjunction with the Independent Games Festival (IGF). The ceremonies are available to attend for all GDC 2019 pass-holders.

Over the course of more than three decades, Amy has established a multifaceted career in game development, starting with development on the Atari 7800 up to the modern PlayStation 4 platform. Amy’s expertise is as deep as it is varied, with professional experience as a digital artist, animator, game designer and especially in the last two decades, as a writer and director of acclaimed adventure titles with strong narrative and character elements.
Serving as the creative director and writer of Naughty Dog’s Uncharted game series, her contributions helped that series become one of the most acclaimed and beloved in the modern gaming era. Before that, Amy served as writer and director of the groundbreaking Soul Reaver / Legacy of Kain series at Crystal Dynamics during her more than eight year tenure with the company. Amy has earned countless accolades for her writing from prestigious organizations including the WGA Videogame Writing Awards and BAFTA, the latter of which also rewarded Amy with a Special Award in recognition for her contribution to the video game industry.
“Amy Hennig is a powerful figure in the game world; her work exemplifies what good game narrative can be, with pathos, humor, suspense and energy. She is truly one of the most influential developers in the games industry,” said Katie Stern, general manager of the Game Developers Conference. “These past accomplishments are just milestones in a career that we’ll be following for years to come, but for one night at the GDCAs, we’ll reflect on the hard work and artistry that makes game developers like Amy the heart of the industry.”
Previous recipients of the Lifetime Achievement Award recipients include Tim Schafer, Tim Sweeney, Shigeru Miyamoto, Warren Spector, John Carmack, Hironobu Sakaguchi, Hideo Kojima, Sid Meier, Ken Kutaragi, Dr. Ray Muzyka and Dr. Greg Zeschuk and Peter Molyneux, among others.
The recipients of the Lifetime Achievement are chosen by the Game Developers Choice Special Awards Jury, which includes notable game industry leaders such as Chris Charla ([email protected]), Laine Nooney (New York University), Brian Reynolds (Big Huge Games), Brandon Sheffield (Necrosoft Games) and Mare Sheppard (Metanet Software).
For more information about the 19th annual Game Developers Choice Awards, visit: http://www.gamechoiceawards.com/. For more details on the Game Developers Conference, please visit the GDC’s official website, or subscribe to regular updates via Facebook, Twitter, or RSS. Official photos are available via the Official GDC Flickr account: www.flickr.com/photos/officialgdc/. Both the Game Developers Choice Awards and IGF ceremonies are available to attend for all GDC 2019 pass-holders.
About GDC
The Game Developers Conference® (GDC) is the world’s largest professional game industry event with market-defining content for programmers, artists, producers, game designers, audio professionals, business decision makers, and others involved in the development of interactive games and immersive experiences. GDC brings together the global game development community year-round through events and digital media, including the Virtual Reality Developers Conference (VRDC), XRDC, GDC Vault, Gamasutra, Game Career Guide, Independent Games Festival and Summit, and the Game Developers Choice Awards.
GDC is organized by UBM, which in June 2018 combined with Informa PLC to become a leading B2B information services group and the largest B2B Events organizer in the world. To learn more and for the latest news and information, visit www.ubm.com and www.informa.com
CONTACTS:
fortyseven communications
(323) 658-1200
[email protected]
Liz Wakefield
Game Developers Conference (GDC)
(415) 947-6263
[email protected]
Joey Yazzolino
Game Developers Conference (GDC)
(415) 947-6158
[email protected]

Odyssey Toys Selects New Age Electronics as Exclusive US Distributor of Its High-Tech Toy Drones and Quadcopters

LAS VEGAS, Jan. 06, 2016 (GLOBE NEWSWIRE) -- (from the 2016 International Consumer Electronics Show) – New Age Electronics, a leading distributor of consumer electronics and gaming products and services and a division of SYNNEX Corporation (NYSE:SNX), announced today that it has been selected by Odyssey Toys, a leader in the finest consumer high-tech toys, to distribute its toy drones and quadcopters to the US retail channel. The agreement covers a range of Odyssey Toys’ products including many of its high-performance quadcopters, micro drones, cam-mini video drones, and elite video drones with streaming capabilities. Known for bringing the best next-generation products to market, New Age Electronics continues to keep its pulse on the rapidly growing high-tech toy category. The New Age Electronics team continually researches, identifies and adds the most cutting-edge high-tech toy products to its line card and helps implement customized strategies for national, regional and specialty retail models. By adding Odyssey Toys, New Age Electronics brings a high-quality, affordable high-tech toy offering to retailers across a variety of retail channels to sell to their customers. “Today’s high-tech toy market is filled with opportunities for retailers to deliver cool new products that enhance the consumer lifestyle,” said Fred Towns, President, New Age Electronics. “Odyssey Toys offers an innovative experience to consumers through a well-designed and technologically-advanced line of quadcopters and drones available at a lower price point. Many of their devices also come equipped with a built-in HD camera and first person viewer and video streaming capabilities, giving users the opportunity to capture and share new perspectives.” Odyssey Toys is committed to searching the world for the finest, most innovative hi-tech gadgets and remote control toys. Recent advancements in technology have allowed them to manufacture some of the most exciting, affordable and sought after high-tech toys for personal and recreational use. Odyssey Toys’ products are easy to demonstrate and sell to a wide range of consumers, including men, women and children of all ages. “We are excited to be working with New Age Electronics – they have the reach, retail footprint and expertise in emerging technologies to help us successfully bring the Odyssey Toys experience to more consumers,” said Sal Irigoyen, President, Odyssey Toys. “By working with an industry-proven leader in CE distribution, we are able to position Odyssey Toys as a leader in stores and online across the US during this exciting time of innovation and growth in the high-tech toy industry.” To learn more about the full offering of Odyssey Toys available through New Age Electronics, call (800) 947-5974 or email [email protected] To learn more about New Age Electronics, visit www.newageelectronics.com. About Odyssey Toys Odyssey Toys is a rapidly growing, dynamic company dedicated to designing, manufacturing, and distributing the finest hi-tech toys and electronic gadgets at affordable prices. With over 20 years of industry expertise, Odyssey Toys is at the forefront of developing interactive toy technology for men, women, and children of all ages. Headquartered in Miami, Florida, Odyssey Toys has offices in Hong Kong and Los Angeles. Retail partners include Toys“R”Us, Brookstone, Costco, Walmart.com, and Target.com, among others. For more information about Odyssey Toys, visit www.odysseytoys.com. About New Age Electronics New Age Electronics, a division of SYNNEX Corporation (NYSE:SNX), is a sales and supply chain solutions innovator that provides consumer technology (CT) manufacturers with a broad offering of logistics, distribution and remanufactured services. Extensive experience in the CT industry and a customer-centric approach has made New Age Electronics the provider of choice. New Age Electronics distinguishes itself with efficient operations and relentless focus on customer satisfaction. Founded in 1988, New Age Electronics is headquartered in Carson, California. For more information about New Age Electronics, call (310) 549-0000, toll-free (888) 234-0300 or visit the company's website at www.synnex.com/nae. About SYNNEX Corporation SYNNEX Corporation (NYSE:SNX), a Fortune 500 corporation, is a leading business process services company, optimizing supply chains and providing outsourced services focused on customer relationship management. SYNNEX distributes a broad range of information technology systems and products, and also provides systems design and integration solutions. Concentrix, a wholly-owned subsidiary of SYNNEX Corporation, offers a portfolio of strategic solutions and end-to-end business services around customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation to clients in ten identified industry verticals. Founded in 1980, SYNNEX Corporation operates in 25 countries around the world. Additional information about SYNNEX may be found online at www.synnex.com. Safe Harbor Statement Statements in this release that are forward-looking, such as product features and capabilities, high-tech toy category growth, and general success of the collaboration, involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release. Copyright 2016 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX Logo, CONCENTRIX, NEW AGE ELECTRONICS, the NEW AGE ELECTRONICS Logo and all other SYNNEX company, product and services names and slogans are trademarks or registered trademarks of SYNNEX Corporation. SYNNEX, the SYNNEX Logo, CONCENTRIX, NEW AGE ELECTRONICS and the NEW AGE ELECTRONICS Logo Reg. U.S. Pat. & Tm. Off. Other names and marks are the property of their respective owners. SNX-GCONTACT: Media Contacts:
Eliza Bostian
Senior Account Executive, Hughes Agency
For SYNNEX Corporation
(864) 271-0718
[email protected]

Beth Keuling
Account Supervisor, lotus823
For Odyssey Toys
(732) 212-0823
[email protected]

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Mad Catz(R) Reports Fiscal 2016 Second Quarter Financial Results

SAN DIEGO, Nov. 5, 2015 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. ("Mad Catz" or the "Company") (NYSE MKT:MCZ) (TSX:MCZ), today announced financial results for the fiscal 2016 second quarter ended September 30, 2015.

Key Highlights of Fiscal 2016 Second Quarter and Subsequent:

Fiscal 2016 second quarter net sales increased 73% to $38.9 million, the highest second quarter net sales in the Company's history;

Net sales growth driven by a 272% increase in net sales to the Americas, partially offset by an 11% decrease in net sales to EMEA and a 48% decrease in net sales to APAC;

Gross margin declined to 23.1% from 30.0% in the prior year quarter;

Total operating expenses increased 14% from the prior year period to $8.1 million;

Operating income was $0.9 million compared to an operating loss of $0.4 million in the prior year quarter;

Diluted loss per share was ($0.02) for the fiscal 2016 second quarter, compared to a diluted loss per share of ($0.01) last year;

Net position of bank loans, less cash, of $12.7 million at September 30, 2015, compared to $5.8 million at June 30, 2015 and $8.9 million at September 30, 2014;

Shipped Rock Band™ 4 Band-in-a Box™ Software Bundle, Wireless Fender™ Stratocaster™ Guitar Controller and Software Bundle, and stand-alone software for Xbox One and PlayStation™ 4 to retailers ahead of the October 6th launch date for Rock Band 4;

Announced F.R.E.Q.TE™ 7.1 surround sound gaming headset for Windows PC;

Announced pre-order availability of the first Street Fighter™ V licensed fightstick starting October 26, 2015;

Shipped R.A.T. PROX™ high-performance gaming mouse, a 2015 CES Innovation Award Honoree;

Shipped R.A.T. PROS™ tournament-grade gaming mouse; and,

Established an "At-the-Market" ("ATM") equity offering program through which the Company may sell from time to time up to an aggregate of $25.0 million of our common stock.

Summary of Financials

(in thousands, except margins and per share data)

Three Months Ended September 30,

Six Months Ended September 30,

2015

2014

Change

2015

2014

Change

Net sales

$38,918

$22,467

73%

$51,892

$39,214

32%

Gross profit

9,006

6,731

34%

11,884

11,794

1%

Total operating expenses

8,147

7,155

14%

14,787

13,349

11%

Operating income (loss)

859

(424)

(303%)

(2,903)

(1,555)

87%

Net loss

(1,611)

(922)

75%

(5,576)

(2,167)

157%

Net loss per share, basic and diluted

($0.02)

($0.01)

100%

($0.08)

($0.03)

167%

Gross margin

23.1%

30.0%

(690) bps

22.9%

30.1%

(720) bps

Adjusted EBITDA (loss) (1)

$1,391

($111)

(1,353%)

($1,674)

($557)

201%

(1) Definitions, disclosures and reconciliations regarding non-GAAP financial information are included on page 8.

Commenting on the Company's fiscal 2016 second quarter results, Darren Richardson, President and Chief Executive Officer of Mad Catz, said, "We are very pleased to announce record second quarter sales driven by the successful launch of Rock Band 4. As expected, we started shipping product to retailers at the end of September, ahead of the October 6th launch date, and we expect Rock Band 4 to contribute to significant sales growth, improved operating leverage, and increased cash flow in Fiscal 2016."

Summary of Key Sales Metrics

Three Months Ended September 30,

Six Months Ended September 30,

(in thousands)

2015

2014

Change

2015

2014

Change

Net Sales by Geography

Americas

$27,027

$7,260

272%

$32,002

$12,709

152%

EMEA

9,656

10,904

(11%)

15,298

19,278

(21%)

APAC

2,235

4,303

(48%)

4,592

7,227

(36%)

$38,918

$22,467

73%

$51,892

$39,214

32%

Sales by Platform as a % of Gross Sales

Next gen consoles (a)

73%

21%

61%

17%

PC and Mac

17%

43%

25%

45%

Universal

6%

20%

8%

22%

Smart devices

3%

11%

5%

10%

Legacy consoles (b)

1%

5%

1%

6%

100%

100%

100%

100%

Sales by Category as a % of Gross Sales

Specialty controllers

69%

25%

59%

24%

Audio

17%

39%

22%

39%

Mice and keyboards

7%

22%

10%

23%

Games and other

5%

1%

4%

1%

Controllers

1%

9%

3%

9%

Accessories

1%

4%

2%

4%

100%

100%

100%

100%

Sales by Brand as a % of Gross Sales

Mad Catz

75%

34%

64%

34%

Tritton

15%

37%

20%

37%

Saitek

9%

18%

13%

18%

Other

1%

11%

3%

11%

100%

100%

100%

100%

(a) Includes products developed for Xbox One, PlayStation 4 and Wii U.

(b) Includes products developed for Xbox 360, PlayStation 3 and Wii.

Karen McGinnis, Chief Financial Officer of Mad Catz, commented, "We are pleased with our return to top-line growth for the quarter and year-to-date and remain confident that our business strategy, product offerings and financial position will help us return to sales growth and profitability in fiscal 2016. We remain focused on effectively managing our inventory, expenses and accounts receivable while positioning the Company to benefit from the upcoming holiday season."

The Company will host a conference call and simultaneous webcast on November 5, 2015, at 5:00 p.m. ET, which can be accessed by dialing (303) 223-4376. Following its completion, a replay of the call can be accessed for 30 days at the Company's Web site (www.madcatz.com, select "About Us/Investor Relations") or via telephone at (800) 633-8284 (reservation #21783853) or, for International callers, at (402) 977-9140.

About Mad Catz

Mad Catz Interactive, Inc. ("Mad Catz") (NYSE MKT:MCZ) (TSX:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows® PC and Mac® computers, smart phones, tablets and other mobile devices. Mad Catz distributes its products through its online store as well as distribution via many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company's website at www.madcatz.com.

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Safe Harbor

Information in this press release that involves the Company's expectations business prospects, plans, intentions or strategies regarding its future are forward-looking statements that are not facts and that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause the Company's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release are the following: the ability to maintain or renew the Company's licenses; competitive developments affecting the Company's current products; first-party price reductions; availability of capital under our credit facilities; commercial acceptance of new in-home gaming consoles; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; unanticipated product delays; or a downturn in the market or industry. A further list and description of these and other factors, risks, uncertainties and other matters can be found in the Company's most recent annual report, and any subsequent quarterly reports, filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators. The forward-looking statements in this release are based upon information available to the Company as of the date of this release, and the Company assumes no obligation to update any such forward-looking statements as a result of new information or future events or developments, except as may be require by applicable law. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of the Company and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.

Consolidated Statements of Operations

(in thousands, except share and per share data)

(Unaudited)

Three Months Ended September 30,

Six Months Ended September 30,

2015

2014

2015

2014

Net sales

$38,918

$22,467

$51,892

$39,214

Cost of sales

29,912

15,736

40,008

27,420

Gross profit

9,006

6,731

11,884

11,794

Operating expenses:

Sales and marketing

4,457

3,477

7,173

5,889

General and administrative

2,638

2,722

5,532

5,873

Research and development

941

846

1,862

1,368

Amortization of intangible assets

111

110

220

219

Total operating expenses

8,147

7,155

14,787

13,349

Operating income (loss)

859

(424)

(2,903)

(1,555)

Other expense:

Interest expense, net

(364)

(167)

(621)

(325)

Foreign currency exchange loss, net

(154)

(382)

(93)

(417)

Change in fair value of warrant liabilities

(871)

74

(917)

55

Other income (expense)

10

(2)

22

79

Total other expense

(1,379)

(477)

(1,609)

(608)

Loss before income taxes

(520)

(901)

(4,512)

(2,163)

Income tax expense

(1,091)

(21)

(1,064)

(4)

Net loss

($1,611)

($922)

($5,576)

($2,167)

Net loss per share:

Basic

($0.02)

($0.01)

($0.08)

($0.03)

Diluted

($0.02)

($0.01)

($0.08)

($0.03)

Shares used in per share computations:

Basic

73,469,571

64,149,124

73,469,571

64,115,591

Diluted

73,469,571

64,149,124

73,469,571

64,115,591

Consolidated Balance Sheets

(in thousands)

(Unaudited)

September 30, 2015

March 31, 2015

ASSETS

Current assets:

Cash

$6,970

$5,142

Accounts receivable, net

27,659

7,823

Other receivables

992

560

Inventories

33,145

15,479

Deferred tax assets

1,566

2,245

Income taxes receivable

341

967

Prepaid expenses and other current assets

1,897

1,293

Total current assets

72,570

33,509

Deferred tax assets

7,606

7,605

Other assets

686

418

Property and equipment, net

3,826

3,376

Intangible assets, net

2,490

2,584

Total assets

$87,178

$47,492

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Bank loans

$19,638

$7,920

Accounts payable

38,755

16,404

Accrued liabilities

13,647

4,196

Notes payable

919

1,015

Income taxes payable

557

141

Total current liabilities

73,516

29,676

Notes payable, less current portion

97

36

Warrant liabilities

2,104

1,187

Deferred tax liabilities

43

43

Deferred rent

738

762

Total liabilities

76,498

31,704

Shareholders' equity:

Common stock

63,390

63,128

Accumulated other comprehensive loss

(4,917)

(5,123)

Accumulated deficit

(47,793)

(42,217)

Total shareholders' equity

10,680

15,788

Total liabilities and shareholders' equity

$87,178

$47,492

Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)

Six Months Ended September 30,

2015

2014

Cash flows from operating activities:

Net loss

($5,576)

($2,167)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

1,038

1,060

Accrued and unpaid interest expense on note payable

--

10

Amortization of deferred financing fees

189

36

Loss on disposal of assets

6

6

Stock-based compensation

262

240

Change in fair value of warrant liabilities

917

(55)

Provision for deferred income taxes

678

44

Changes in operating assets and liabilities:

Accounts receivable

(19,790)

(4,195)

Other receivables

(431)

205

Inventories

(17,625)

(3,077)

Prepaid expenses and other current assets

(357)

(319)

Other assets

85

187

Accounts payable

22,280

4,332

Accrued liabilities

9,602

285

Deferred rent

(24)

--

Income taxes receivable/payable

1,045

(330)

Net cash used in operating activities

(7,701)

(3,738)

Cash flows from investing activities:

Purchases of intangible assets

(25)

--

Purchases of property and equipment

(1,245)

(686)

Net cash used in investing activities

(1,270)

(686)

Cash flows from financing activities:

Borrowings on bank loans

41,955

29,220

Repayments on bank loans

(30,248)

(24,297)

Payment of financing fees

(720)

(50)

Borrowings on notes payable

95

--

Repayments on notes payable

(160)

(469)

Proceeds from exercise of stock options

--

236

Payment of expenses related to issuance of common stock

(164)

--

Net cash provided by financing activities

10,758

4,640

Effects of foreign currency exchange rate changes on cash

41

(46)

Net increase in cash

1,828

170

Cash, beginning of period

5,142

1,496

Cash, end of period

$6,970

$1,666

Supplementary Data

Adjusted EBITDA (Loss) Reconciliation (non-GAAP)

(in thousands)

(Unaudited)

Three Months Ended September 30,

Six Months Ended September 30,

2015

2014

2015

2014

Net loss

($1,611)

($922)

($5,576)

($2,167)

Adjustments:

Depreciation and amortization

552

580

1,038

1,096

Stock-based compensation

124

117

262

240

Change in fair value of warrant liabilities

871

(74)

917

(55)

Interest expense, net

364

167

621

325

Income tax expense

1,091

21

1,064

4

Adjusted EBITDA (loss)

$1,391

($111)

($1,674)

($557)

Adjusted EBITDA (loss), a non-GAAP ("Generally Accepted Accounting Principles") financial measure, represents net loss before interest, taxes, depreciation and amortization, stock-based compensation and change in the fair value of warrant liabilities. Adjusted EBITDA is not intended to represent cash flows for the period, nor is it being presented as an alternative to operating or net loss as an indicator of operating performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. As defined, Adjusted EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the method of calculation. Our management believes, however, that in addition to the performance measures found in our financial statements, Adjusted EBITDA is a useful financial performance measurement for assessing our Company's operating performance. Our management uses Adjusted EBITDA as a measurement of operating performance in comparing our performance on a consistent basis over prior periods, as it removes from operating results the impact of our capital structure, including the interest expense resulting from our outstanding debt, and our asset base, including depreciation and amortization of our capital and intangible assets. In addition, Adjusted EBITDA is an important measure for our lender.
CONTACT: Karen McGinnis
Chief Financial Officer
Mad Catz Interactive, Inc.
[email protected] or (858) 790-5040

Joseph Jaffoni, Norberto Aja, Jim Leahy
JCIR
[email protected] or (212) 835-8500