Logitech Posts Record Fiscal Q4 Sales, Profits

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Fremont, Calif. — Logitech International reported record sales and profits for its fiscal fourth quarter, ended March 31.

Logitech said this is its 10th consecutive year of double-digit revenue growth and of reaching its full year revenue and profitability goals.

For the fourth quarter of fiscal year 2008 sales were $601 million, up 17 percent from $513 million in the same quarter last year. Operating income was $66.1 million, up 20 percent from $55.3 million for the same quarter a year ago. Net income was $60.3 million, up from $56.2 million in the prior year. Gross margin was 35.6 percent, compared with 34.5 percent in the fourth quarter of the previous year.

Logitech's retail sales for Q4 grew 8 percent in the Americas. Retail growth for Logitech was fueled worldwide by strong sales of cordless mice (up 58 percent) and speakers (up 24 percent). Retail video sales grew by 9 percent. OEM sales grew by 34 percent, driven primarily by strong demand for microphones for console gaming.

For the full fiscal year, sales were $2.4 billion, up 15 percent from $2.1 billion in the prior fiscal year. Operating income was $287 million, up 24 percent from $231 million a year ago. Net income was $231 million, compared with $230 million in the prior year. Gross margin for the fiscal year was 35.8 percent, compared with 34.3 percent in fiscal year 2007.

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