Logitech results due to 'fighting spirit' of staff
No mice here, then...
Logitech made sales of $347m, up 15 per cent, and increased profits by 29 per cent to $44.9m in the fourth quarter ended 31 March. This contributed to yearly sales of $1.268bn and profits of $146m.
The peripherals firm introduced 100 products over the year and sold 47m Logitech-branded items. OEM sales grew 32 per cent for the year, pushed by sales of the EyeToy camera and headset for the Playstation2.
Logitech thinks future growth will come be driven by cordless products, webcams for video messaging and console products. It believes cordless keyboards and mice are close to being standard with new PC purchases. Handwriting recognition will be another sales driver, it says. The firm also forecasts its video-calling application will increase demand for its cameras.
The company will consider acquiring innovative companies but would not consider buying a big company, which it defined as one with annual sales of over $200m.
Logitech sold its 500 millionth mouse during the period, which is easier to type than to say.
Guerrino De Luca, president and chief exec, said: "Logitech enters the new fiscal year poised for success...we introduced new affordable products intended to stimulate and respond to accelerating adoption of cordless peripherals by mainstream computer users."
The company is investing $15m to replace its manufacturing plant in China. ®