Logitech announced record sales and operating profit for the third quarter of Fiscal Year 2008, ended Dec. 31, 2007.
Sales of Logitech were $744 million, up 13% from $659 million in the same quarter last year.
Operating income was $116 million, up 17% from $100 million for the same quarter a year ago. Net income was $134 million ($0.71 per share), up from $94 million ($0.49 per share) one year ago.
Gross margin reached an all-time high for the company at 36.9%, compared to 36.2 percent in Q3 of FY 2007. Cash flow from operations was $177 million, the highest ever for a quarter.
The growth in the Americas and EMEA was restrained by continued weakness in the webcam category. Retail sales in all regions were driven by strong demand for Harmony remote controls, keyboards and mice.
Sales of Harmony remote controls increased by 72%, with strong growth in all regions. Keyboard sales increased by 32% and mice sales increased by 22%. OEM sales grew by 54%, driven by strong demand for microphones for console singing games.
Via the Logitech site.
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