Earnings Briefs
Staff -- TWICE, 1/24/2005
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Logitech Fis. Q3 Sales Increase 18%; Mice, Gaming Lead The Way
Fremont, Calif. — Personal peripherals and mobile-headset maker Logitech International enjoyed an 18 percent increase in sales for its fiscal third quarter, ended Dec. 31. Revenue hit $483.8 million, up from $409.6 million in the same three months in 2003. Net income for the third quarter dipped to $64.2 million, compared with $66.8 in the year-ago period, because the third quarter of last year included a one-time favorable impact of $13.4 million from the release of a valuation allowance on specific deferred tax assets. Excluding this amount, net income growth was 20 percent, third quarter over third quarter. Gross margin for the three months was 34.8 percent, an increase over the 34.3 percent year-on-year. Driven by strong third-quarter demand, Logitech's retail sales climbed 30 percent over the year-ago period. Retail sales of cordless mice rose 97 percent, and gaming products jumped 84 percent quarter over quarter. For the nine months, sales hit $1.1 billion, up from $921.3 million in 2003. Net income increased to $109 million, compared with $93.7 million in the first nine months a year earlier.
Plantronics Mobile Headset Segment Rev. Rises 17% In Fis. Q3
Santa Cruz, Calif. — Citing the convergence of wireless and entertainment, headset maker Plantronics registered $35.5 million in mobile-headset segment revenue during its fiscal third quarter, ended December 31, up 17% from the $29.5 million reported in the same three months last year. The company's gaming and computer headset segment accounted for $15.3 million in third quarter revenue, up from $5.8 million in the same period in 2003. Plantronics said it shipped about 22.5 million headset tops in 2004, an increase of 64 percent over the 13.7 million headset tops shipped in 2003. Consolidated third-quarter revenue increased 40 percent, hitting $150.6 million, up from $107.6 million in the same quarter a year ago. Net income rose to $24.4 million from $17.6 million third quarter over third quarter. For the nine months, consolidated sales reached $412.2 million, rising from $295.5 million a year ago, while net income rose to $71.5 million, compared with a year-over-year $41.3 million.
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