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Sharky Extreme : News From Inside The Industry November 16, 2007

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    By Vangie Beal :  July 24, 2002

    (Press Release) Logitech International has announced its best first quarter ever, posting sales of $195 million, an increase of 14 percent over the same quarter last year. Operating income was $12.6 million, an increase of 55 percent over the first quarter of the previous year. Net income of $10.8 million ($0.22 per share) was 71 percent higher. Gross margin of 34 percent was 267 basis points higher than the same quarter last year. Retail sales grew by 16 percent and represent 81 percent of the total revenue in the quarter. Key retail growth drivers for the quarter were the Company's keyboard and desktop (mouse + keyboard) businesses, as well as retail video products, especially the dualcam category, which combines webcam communication with the functionality of a digital still camera. At the same time, sales to OEM customers grew by eight percent, outpacing the underlying growth of the PC market.

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