Logitech Posts Sales, Earnings Gains In Quarter
by Staff -- TWICE, 1/28/2008
FREMONT, CALIF. — Logitech International reported record double-digit gains in its fiscal third-quarter sales and earnings.
For the quarter, ended Dec. 31, sales were $744 million, up 13 percent from $659 million in the same quarter last year. Operating income was $116 million, up 17 percent from $100 million for the same quarter a year ago. Net income was $134 million up from $94 million one year ago.
Gross margin reached an all-time high for the company at 36.9 percent, compared with 36.2 percent in the previous year's third quarter.
Logitech's retail sales for Q3 grew by 9 percent year-over-year, increasing by 9 percent in the Americas. However, the company reported growth in the Americas was restrained by continued weakness in the Web cam category.
