From CC Tran_script_, CEO said Saitek has successfully established [front] positions in niche segments through outstanding product design and innovation and we continue to build on our market leading range of Saitek’s flight sim products. As we move through fiscal 2010(April 2009-Mar 2010) we will begin applying that same distinctive core competence to larger market segments. This is projects that we are all very excited about. SG&A for the quarter was $5 million, a decline of 33.4% versus $7.5 million last year. We continue to believe that in fiscal 2010 we will make significant improvements in SG&A over fiscal 2009. impact of foreign exchange which if you look at the massive swing in the Pound coming through sort of October/November you had about a 40% appreciation of the U.S. dollar which pretty much knocked 40% right off the top line. historically you have movement in foreign exchange but it moved relatively slowly and you could make adjustments to pricing and so forth. So it is going to take just a little bit of time to work out but those rates are now starting to swing back in our favor so hopefully by Q1 we will start to see some continuing improvement there which would take off some of the pressure on the sales line, but also help bring the margins back in line. http://seekingalpha.com/article/145201-mad-catz-interactive-inc-f4q09... Bits and Pieces From the 10-K “ We maintain a direct sales force in the United States, Europe and China. Direct shipping programs with certain customers, whereby the customer receives and takes _title_ of the products directly in Hong Kong, are managed by our Asian operation. Until June 2009, we operated a leased 95,000 square foot distribution center in Mira Loma, California which services North American customers. This facility was replaced in June 2009 with a 101,000 square foot distribution center in Redlands, California We also utilize two outsourced distribution centers and related logistics solutions for the European market, one in the United Kingdom and one in Germany . In fiscal 2009, approximately 58% of our gross sales were generated by customers whose retail stores are located in the United States, 37% in Europe, 2% in Canada, and 3% in other countries, including Australia, Japan, Korea, New Zealand and Singapore. “ “ In fiscal 2010, we will focus on: • increasing market penetration of our PC products, particularly in North America; • continuing to expand our portfolio of licensed properties; • identifying strategic opportunities for the expansion of products in adjacent and compatible categories, including transactions with companies for which products Mad Catz can leverage its global distribution capabilities; • continuing to expand our range of AirDrives portable audio headset products and distribution for the AirDrives line; and • continuing to pursue videogame publishing opportunities, with a particular emphasis on hardware-videogame bundles “ “ At March 31, 2009, we had 234 full-time employees in the following locations: Location United States 70 United Kingdom 43 Germany 21 France 7 Hong Kong 30 China 63 Total 234 “ “ In fiscal 2009, one of our customers, GameStop Inc., individually accounted for at least 10% of our gross sales, accounting for approximately 29% or our gross sales in fiscal 2009, taking into account all of its US and non-US entities. In fiscal 2008, one of our customers, GameStop Inc., individually accounted for at least 10% of our gross sales, accounting for approximately 33% of our gross sales in fiscal 2008.”