OEM sales key to better business for Logitech

Logitech posts its best fourth quarter performance ever with higher sales across the board but with OEM sales to Sony playing a big part.

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By  Simon Duddy Published  April 17, 2004

Logitech has reported its sixth consecutive year of record sales and profitability, finishing with the best fourth-quarter performance in the company’s history. For Logitech’s fourth fiscal quarter, ended March 31, 2004, sales were $347 million, a year on year rise of 15%. Logitech’s strong OEM revenue growth was primarily due to sales to Sony of the EyeToy camera and USB Headset for the PlayStation 2. OEM console sales grew by 58% over the same quarter last year and by 193% over last year. Complementing the strong console-gaming sales to OEMs, Logitech’s sales of mice to OEMs were also up 15% for the fourth quarter and 16 percent for the full fiscal year. Logitech’s retail sales were also up 15% for the quarter, and 12% for the entire fiscal year. During the quarter, the Company experienced robust retail sales growth in webcams, PC headsets and PC gaming peripherals. Compared with the same quarter a year ago, sales of webcams grew by 93% and unit shipments of webcams grew by 73%. Sales of PC Headsets for the quarter grew by 41% year on year. “This has been a remarkable year for Logitech,” said Guerrino De Luca, Logitech’s president and chief executive officer. “We gained momentum throughout our business, delivering record-breaking results that exceeded our targets for growth in sales and operating income. The Logitech brand was strengthened by the introduction of innovative new products and the marketing initiatives that were conducted in each of our regions. And I could not be more proud of the improvements made in operating efficiencies and product costs, and the fighting spirit of the Logitech employees.”

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