Logitech Posts Profit, Higher Sales In Qtr.
By Steve Smith On May 3 2010 - 3:01am
FREMONT, CALIF. — Logitech International
reported higher sales and turned
a profit in its fiscal fourth quarter, ended
Sales for quarter were $525 million,
up 29 percent from $408 million in the
same quarter last year. Net income was
$24 million, compared with a net loss
one year ago of $35 million.
Logitech’s retail sales for the fourth
quarter grew by 27 percent year over
year, with sales up by 54 percent in the
Americas, the company said.
“After a challenging start to the year,
we ended fiscal year 2010 with very
strong sales and gross margin performance,”
said Gerald P. Quindlen,
Logitech president and CEO. “I’m very
pleased that in Q4 we delivered strong
sell-through growth and achieved double-
digit sales growth in our three retail
regions [and] all of our retail product
For the full fiscal year, sales were $2.0
billion, down from $2.2 billion in fiscal
year 2009. Operating income was $78 million,
down from $110 million a year ago.
Net income was $65 million, compared
with $107 million in the prior year.