Fremont, Calif. – Logitech
International said it had its highest-ever quarterly sales for the third
quarter of fiscal year 2011.
Sales for the
third quarter of the fiscal year were $754 million, up 22 percent from $617
million in the same quarter last year. Excluding the unfavorable impact of exchange
rate changes, sales increased by 26 percent, the company said.
Operating income
was $76 million, an increase of 30 percent when compared with $58 million in
the year-ago period. Net income for the
quarter was $65 million, compared with $57 million, and gross margin was 36
percent, up from 33.9 percent the previous year.
Logitech’s retail
sales for the third quarter grew by 17 percent year over year, with an increase
in Asia of 51 percent, an increase in the Americas of 31 percent, and a
decrease in EMEA of 1 percent. OEM sales increased by 18 percent, the company
said, while the LifeSize division contributed 5 percentage points to the company’s
quarterly sales growth compared with the prior year.
“We are very
pleased with our Q3 performance, which included our highest-ever quarterly
sales and strong year-over-year growth in both sales and operating income,”
said Gerald P. Quindlen, Logitech president and CEO, in a statement. “All of
our retail product categories contributed to our sales growth, with
double-digit increases in remote controls, pointing devices, video and gaming.
OEM sales made a very solid contribution, and the momentum continued for our
LifeSize division, which delivered the highest-ever quarterly sales in its
history.”
Regarding the
much-talked-about
, Quindlen said, “A highlight of the quarter was the launch of
Logitech Revue with Google TV and related peripherals. We are confident about
the long-term potential of the Google TV platform and look forward to continued
enhancements around the platform as we work with Google to push periodic
over-the-air software updates.”
