Logitech eyes boost from 'digital home' after profit drop

Apr 29, 2010

Swiss electronics and computer peripherals maker Logitech on Thursday announced a drop in annual net profit but predicted that growing demand for "digital home" products would double its operating income.

Logitech said the rebound was evident in fourth quarter results for its 2009/2010 business year until March 31, with sales growth of more than a quarter.

"After a challenging start to the year, we ended Fiscal Year 2010 with very strong sales and gross margin performance," said chief executive Gerald Quindlen in a statement.

"Most notably, we see continued strong double-digit sales growth in the digital home," he added, pointing to the growth of its television remote controls and a video communications division.

Logitech said it was lining up new peripherals for Apple's tablet this year as well as new video products.

Annual for 2009/2010 reached 65 million dollars (49 million euros) against 107 million dollars the previous year.

In the fourth quarter, Logitech recovered from a loss a year earlier to a 24.5 million dollar while sales reached 525.4 million dollars, an increase of 29 percent.

Logitech is targeting sales of about 2.3 billion dollars for the coming financial year, against 2.0 billion in 2009/2010 and "expects to approximately double year over year."

"We're back on the road to growth. It'll take a certain amount of time but we're on the right path," Quindlen told AFP.

Quindlen said electronics prices had stabilised this year while consumers were gradually recovering confidence.

Logitech specialised in peripherals such as innovative computer mouses when it was founded in 1981, with plants in Europe, Asia and California.

Explore further: Bose sues Beats over headphone patents

add to favorites email to friend print save as pdf

Related Stories

Logitech buys video conferencing firm

Nov 13, 2009

Switzerland-based Logitech is buying video-conferencing equipment firm LifeSize Communications in a 405-million-dollar deal expected to close next month.

Dutch semiconductor tech company ASML reports profit

Apr 14, 2010

Dutch company ASML, a key supplier of computer chip-making systems, said Wednesday it had turned last year's losses into a 107-million-euro first quarter net profit, predicting record 2010 sales.

ASML announces 151 mln euro net loss for 2009

Jan 20, 2010

Dutch company ASML, a key supplier of computer chip-making systems, reported a 151-million-euro (214-million-dollar) net loss for 2009 despite making a 50-million-euro fourth quarter net profit.

Taiwan's HTC says profit down 30 percent

Apr 06, 2009

Taiwan's smartphone maker HTC Corp posted a year-on-year 30 percent fall in first quarter net profit as the global economic meltdown hit sales, the company said Monday.

SKorea's Hynix swings to profit as chip industry recovers

Jan 21, 2010

South Korea's Hynix Semiconductor said Thursday it swung to a net profit in the fourth quarter, following a loss in the period the year earlier, in a further sign that the global chip industry is recovering from a two-year ...

Recommended for you

Report: China to declare Qualcomm a monopoly

Jul 25, 2014

(AP)—Chinese regulators have concluded Qualcomm Inc., one of the biggest makers of chips used in mobile devices, has a monopoly, a government newspaper reported Friday.

User comments : 0