By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Fremont, Calif.— Digital personal-interface product maker Logitech enjoyed an 18 percent increase in revenue in its fiscal fourth quarter, hitting $301.7 million, up from $256 million in the year-ago period. Net income increased 24 percent in the three months, ended March 31, reaching $26.6 million, compared with $21.5 million in the same quarter last year. For the fiscal year, Logitech recorded a 17 percent increase in revenue, to $1.1 billion, up from $943.5 million a year earlier. Net income for the 12 months soared 32 percent, hitting $98.8 million, compared with $75 million in the previous period. The company pegs its increases in sales and profit to the launch of innovative products and effective cost management. In the 12 months, Logitech recorded 33 percent growth in audio sales and 52 percent in console sales. Sales for the current quarter are expected to be between $215 million and $220 million, up about 11 percent to 13 percent. It anticipates about $1.21 billion in sales for the fiscal year.
Santa Cruz, Calif.— New wireless headsets helped Plantronics post a 12.6 percent revenue gain in the company's fiscal fourth quarter, ended March 31. Sales reached $88.1 million, up from $78.2 million in the year-ago period. Fourth quarter net income hit $10.6 million, compared with $10.8 million in the same three months a year ago. Plantronics said the decrease was due to a 30 percent tax rate in the fourth quarter, compared with a very low effective tax rate in the year-earlier three months. While unit shipments of Bluetooth headsets increased substantially in the fourth quarter, margin on these products was slim, resulting in gross margin up just slightly from the previous three months. For the fiscal year, revenue climbed 8.5 percent, to $337.5 million, up from $311.2 million last year. Net income for the 12 months rose to $41.5 million, from $36.2 million.
Oakdale, Minn. — Posting solid results in its core data storage business, Imation recorded consolidated sales of $273.3 million in the first quarter, ended March 31, up about 1 percent from the $273.3 percent recorded in the year-ago period. Sales in the company's data storage and information management segment climbed 3.1 percent, to $260 million, compared with $252.2 million year-on-year. Data storage segment operating income in the first quarter was $31.4 million, up from $22.2 million the previous year. Imation's consolidated net income for the first quarter reached $21.5 million, up from $16.8 million in the first three months of 2002.
Lexington, Ky.— Despite a slow technology market and a sluggish economy, laser and inkjet printer and supplies maker Lexmark International recorded $1.11 billion in sales for the first quarter, an increase of 6 percent from the $1.05 billion reported in the year-ago period. Laser and inkjet supplies revenue reached $642 million in the three months, ended March 31, a 17 percent increase over the $546 million rung up in the same quarter in 2002. Supplies now represent 56 percent of total Lexmark revenue, up from 52 percent year-on-year. Laser and inkjet printer revenue dropped 8 percent in the first quarter, to $370 million, compared with $401 million in the first three months of last year. Net earnings reached $94.6 million in the first quarter, up from $71.5 million in the same quarter a year ago.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.