Global Supplier Directory
Supplier Solutions
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center

Daily News

Logitech Posts Record Q2 Results
Oct 22, 2003
 Printable format
 Email this Article

Logitech International, a maker of digital products such as digital cameras, has announced that sales for its second fiscal quarter of 2004, ended Sept, 30, 2003, were U.S. $294 million, up 17 percent from $252 million in the same quarter last year. Operating income was $27.4 million, up from $25.7 million last year. Net income for the quarter was $21.2 million ($0.44 per share), up slightly from $21 million ($0.42 per share) in the second quarter of 2003. Gross margin rebounded in the second quarter to 31.5 percent, compared with 27.8 percent during this year's first fiscal quarter

  • an improvement of 370 basis points.

    The company said the second quarter of 2004 was its strongest-ever second quarter, with revenue and operating income exceeding its expectations. The strong Q2 revenue results were largely due to robust OEM sales, which were up by 45 percent over Q2 of the prior year, the company said. Retail sales of Logitech products also grew
  • up 11 percent over the same quarter last year. The sequential improvement in gross margin was a significant factor for the higher-than-expected operating income.

    "We're very pleased with our performance for the second quarter," said Guerrino De Luca, Logitech's president and CEO. "Our record sales, solid profitability and improved margins for the second quarter clearly indicate that our growth initiatives and product-cost improvements are working."

    According to Mr. De Luca, the company’s OEM revenue was the highest ever, driven by sales to Sony of the EyeToy™ Camera and the USB Headset for the Sony® PlayStation®2, as well as by the appeal of the company’s products that enable PC producers to differentiate their systems.

    "For key Logitech retail products -- such as cordless mice, gaming peripherals for consoles and PCs, PC speakers and headsets, and webcams -- we were able to deliver significant growth, and defend or gain market share in a vibrant and extremely competitive market," Mr. De Luca said.

    Highlights of Logitech's second quarter include:
  • Record performance for Logitech's console-gaming peripherals, representing what the company says is its highest level of sales and unit shipments -- sales for these products more than tripled compared to the same quarter last year
  • Retail sales of Logitech-branded speakers more than doubled over the second quarter of last year
  • Retail sales of webcams increased by 36 percent over the second quarter of last year
  • Cash flow from operations was $31 million for the second quarter of 2004, up $20 million compared with the same quarter a year ago
  • Successful launch of the company's first-ever television advertising campaign, which includes print and Web advertising
  • Introduction of new retail products, including cordless mice, PC speakers, cordless headsets, and gaming peripherals for PCs and consoles

    For the fiscal year 2004, ending March 31, 2004, the company reaffirmed its targets for 10-percent growth in revenue and 15-percent growth in operating income, over FY 2003.

    Back to Daily News


    Daily News


    Dec 17, 2014: Bosch names Kenny head of marketing

    Dec 17, 2014: Multifamily Production Index off its peak, but still positive

    Dec 17, 2014: AHRI launches two new certification programs

    Dec 16, 2014: Arçelik awarded for fridge with integrated ice-cream bowl

    Dec 16, 2014: Report: appliance segment at the top of 2014 reshoring list

    More Daily News>>

    RSS Feeds
    Appliance Industry
    Market Research


    November 2014: Appliance Magazine Market Insight Annual Subscriptions
    November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
    October 2014: Portrait of the European Appliance Industry
    September 2014: Appliance Industry Focus: HVAC

    Contact Us | About Us | Subscriptions | Advertising | Home
    UBM Canon © 2014  

    Please visit these other UBM Canon sites

    UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows