Peripherals maker Logitech feels Asia-led sales boom
Swiss-based computer peripherals giant Logitech said on Thursday that net profit in the third quarter of its 2010-2011 financial year grew by 14 percent as sales boomed, especially in Asia.
Net profit for the period reached 65 million dollars, while net sales grew 22 percent year-on-year to 754 million dollars, the company said in a statement.
"We are very pleased with our third quarter performance, which included our highest-ever quarterly sales and strong year-over-year growth in both sales and operating income," said Logitech president and chief executive Gerald Quindlen.
"All of our retail product categories contributed to our sales growth, with double-digit increases in remote controls, pointing devices, video and gaming," he added.
Retail sales grew by 17 percent on average, led by 51 percent growth in Asia, while the company launched set top boxes for an Internet-linked TV platform with US search engine giant Google during the quarter.
US newspapers reported last month that Google had asked several television makers to delay their launch of sets featuring the product.
"We are confident about the long-term potential of the Google TV platform and look forward to continued enhancements around the platform as we work with Google to push periodic over-the-air software updates," Quindlen said.
Logitech slightly raised the overall sales forecast for its financial year ending March from a range of 2.35 billion to 2.4 billion dollars to 2.4 to 2.42 billion dollars.
(c) 2011 AFP