Outlook still bright at Logitech
Despite a downturn in the fortunes of many computer companies, Swiss-based Logitech International still expects sales growth of about 25 per cent for the current business year, with operating income forecast to be up 40 to 45 per cent.
Speaking at a conference Logitech’s chief financial officer, Kristen Onken, said that the company expected sales growth of 12 to 14 per cent in the second quarter to September and a 35 to 40 per cent increase in operating income.
Announcing first quarter results in July, Logitech said sales rose by 26 per cent to $177.9 million (SFr302.4 million) and operating income doubled to $8.2 million, defying gloom in the wider PC industry. Net income rose to $6.3 million from $5 million.
Demand has chiefly come from consumers, buying new or replacement peripherals such as mice, keyboards or video cameras, while sales to PC makers have been depressed.
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