At CES 2009, some of the coolest computer gear came from Logitech. I really like the new 5000 dpi gaming mouse and their new gaming keyboard with the full color LCD grafted on. I also thought the Guitar Hero controller was very cool.
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The company has announced its financials for the previous quarter for its Q3 2009 fiscal year. As expected with any firm that supplies the computer industry, sales are down. Logitech Q3 sales totaled $627 million, a decrease of 16% from the same quarter last year.
Net income was $40 million compared to $134 million the previous year. Overall, retail sales dropped 16% compared to the previous year. The drop in sales and income is blamed on the economy and Logitech says that it was able to scale back operating expenses to compensate for the decline to some extent. I hope that the slowing sales don't keep the firm from introducing new products.
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