14 DAY TRIAL // Back in 2012, Logitech incurred financial losses overall, but this year, the Swiss peripheral maker has rebounded, with sales for the latest quarter having gone up by a great deal compared to the same period of 2012.
What we have here is not, as one would understandably expect, the financial tally for the fourth quarter of 2013.
Well, actually it is, but for Logitech it's actually the summary for the third quarter of its fiscal year 2014.
The company scored a profit of $53 million / €39 million, which is much better than in the third quarter of FY 2013, which came with a loss.
“We’re pleased by our solid Q3 performance, with both sales and profit growth,” said Bracken P. Darrell, Logitech president and chief executive officer.
“We’re encouraged by the robust sales in our growth categories, as well as the success of our ongoing initiatives to improve profitability, which includes the earlier-than-expected return to profitability of LifeSize. We still have more work ahead, but our turnaround is on track as we continue to build a faster and more profitable Logitech.”
Retail sales increased very much indeed, with audio devices, both wearable and wireless, going up 79%, while PC gaming-related sales went up 25%, despite the slump in general demand for PCs themselves.
The true grand prize, however, goes to tablet accessories. Sales grew by 95%, although it might just be owed to the fact that the tablet accessory market was fairly small in 2012 (FY 2013 for Logitech).
Anyway, Logitech expects this to lead to a good full-year financial result, with sales of $2.1 billion / €1.55 billion instead of $2 billion / €1.47. Profit should be of around $120 million / €88 million, 20% better than initially expected.
Granted, it will continue to receive competition from various other peripheral makers, but that's always been the case.