Logitech reports strongest Q4 ever

Apr 22 2008, 12:28am CDT | by Luigi Lugmayr

Logitech (SWX:LOGN) (Nasdaq:LOGI) announced record Q4 sales and profits, delivering its tenth consecutive year of double-digit revenue growth and reaching its full year revenue and profitability goals.

For the fourth quarter of Fiscal Year 2008, ended March 31, 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 ($0.32 per share), up from $56.2 million ($0.29 per share) in the prior year. Gross margin was 35.6 percent, compared to 34.5 percent in Q4 of FY 2007. Logitech’s retail sales for Q4 grew by 15 percent year over year, increasing by 13 percent in EMEA, 8 percent in the Americas, and 58 percent in Asia Pacific. Across Logitech sales regions, retail growth was fueled 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 FY 2007. Operating income was $287 million, up 24 percent from $231 million a year ago. Net income was $231 million ($1.23 per share) compared to $230 million ($1.20 per share) in the prior year. Gross margin for the fiscal year was 35.8 percent, compared to 34.3 percent in FY 2007.

For Fiscal Year 2009, ending March 31, 2009, the Company confirmed its financial targets of 15 percent growth in both sales and operating income. FY 2009 gross margin is expected to be above the high end of the Company’s long-term target range of 32-34 percent. The Company’s tax rate for the year is expected to be approximately 12 percent.

Photo:
Logitech Wheel of Gran Turismo for Sony PS3. More details.

where to buy

Buy from Amazon

What Others Say about This

KIT digital Uses Haivision's KulaByte(TM) Internet Encoder to Power Live Multiplatform Video Streaming for Nautilus Live

Haivision Network Video today announced that its KulaByte live Internet encoder powers multiscreen video delivery for Nautilus Live, a cutting-edge live ocean exploration program. A part of a complete media system provided by KIT digital, the KulaByte H. ...
Full article at: University Business More like this 1 hour ago

CardSmith, ColorID Form Strategic Partnership

University Business is the most widely received, most regularly read publication for higher education leaders at two- and four-year colleges and universities nationwide. UB provides cutting-edge coverage of higher education technology, news, finance, pol ...
Full article at: University Business More like this 1 hour ago, 5:59pm CST

Canon U.S.A. Announces Launch Of New Océ Varioprint DP Line Black & White Digital Press Solution

Canon U.S.A., Inc., a leader in digital imaging solutions, today announced the launch of the Océ VarioPrint® DP Line of next-generation light to mid-production monochrome digital presses. Featuring the strengths of Canon and Océ production print technolo ...
Full article at: University Business More like this 1 hour ago, 5:47pm CST

Don't miss ...

Technology News

Solar Powered Clothing: The Future of Mobile Charging...

Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.