Fremont, Calif. - Logitech International announced its
financial results for the third quarter of its 2010 fiscal year.
Sales for the third quarter were $617
million, a decrease of 2 percent compared with $627 million in the same quarter
last year. Excluding the favorable impact of exchange rate changes, sales
decreased by 7 percent.
Operating income for Q3 grew by 37
percent, to $58 million, compared with $43 million in the same quarter a year
ago. Operating income includes the impact of $5.8 million in one-time
transaction costs related to the company's acquisition of LifeSize
Communications in December 2009.
Net income for the quarter was $57
million, compared with net income of $40 million in the prior-year period. Gross
margin for the third quarter was 33.9 percent, compared with the prior year's
Logitech's retail sales for Q3 were up 3
percent year over year, with sales up by 8 percent in the Americas and 6 percent
in EMEA and down 17 percent in Asia. OEM sales were down by 38 percent.