 
Revenue Up 13%, Operating Income Up 17%, Company Increases Operating Income Goal for Full Year
FREMONT, Calif. & ROMANEL-SUR-MORGES, Switzerland–(BUSINESS WIRE)–Logitech International (SWX:LOGN) (Nasdaq:LOGI) today announced record sales and operating profit for the third quarter of Fiscal Year 2008, ended Dec. 31, 2007. Sales were $744 million, up 13 percent from $659 million in the same quarter last year. Operating income was $116 million, up 17 percent from $100 million for the same quarter a year ago. Net income was $134 million ($0.71 per share), up from $94 million ($0.49 per share) one year ago. Gross margin reached an all-time high for the company at 36.9 percent, compared to 36.2 percent in Q3 of FY 2007. Cash flow from operations was $177 million, the highest ever for a quarter.
Logitech’s retail sales for Q3 grew by 9 percent year over year, increasing by 9 percent in the Americas, 4 percent in EMEA and 44 percent in Asia Pacific. The growth in the Americas and EMEA was restrained by continued weakness in the webcam category. Retail sales in all regions were driven by strong demand for Harmony remote controls, keyboards and mice. Sales of Harmony remote controls increased by 72 percent, with strong growth in all regions. Keyboard sales increased by 32 percent and mice sales increased by 22 percent. OEM sales grew by 54 percent, driven by strong demand for microphones for console singing games.
