Logitech Announces First Quarter Fiscal Year 2014 Financial Results

Subject: General Tech | July 27, 2013 - 12:12 AM |
Tagged: logitech, gaming, financial results

Logitech recently posted its financial results for its first quarter of fiscal year 2014. The company announced that sales went up 2% YoY to $478 million. It had a net income of $1 million and an slight operating profit. Both numbers are a step up compared to the $51 million net loss and $59 million operating loss in the same quarter last year. Q1 FY2014 saw gross margin reach 35.2% compared to 31% in Q1 FY2013.

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While Logitech saw OEM sales drop by 6% and sales of its LifeSize division drop by 18%, overall sales increased by 5% thanks to a 12% and 4% sales increase in the Americas and Asia markets respectively. Additionally, sales fell by 3% in the Europe, Middle East, and African markets.

  Q1 FY2014 Q1 FY2013
Sales $478 million (+2%) $469 million
Net Income $1 million ($51 million)
Gross Margin 35.2% 31.1%
Retail Sales (Total) +5% -base line-
OEM Sales -6% -base line-
LifeSize Division Sales -18% -base line-

Logitech experienced the most growth in sales of its tablet accessories, PC gaming peripherals, and wireless speaker products which amounted to a 90% increase versus last year.

According to Logitech, the company expects $2 billion in sales and a $50 million operating income through the entire fiscal 2014 year. It expects to see a gross margin of 39%.

The full Logitech press release can be found over at Market Watch.

Source: Market Watch
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