Logitech Reports 15% Q4 Retail Sales Growth Across Most Product Segments

Logitech continued its rebound in Q4 and for FY 2017 ended March 31, with retail sales growth for the fourth straight year on revenue of $2.2 billion, said the company’s earnings report Wednesday. Quarterly retail sales grew 15 percent year on year to $496 million, led by keyboards and combos ($118 million, up 12 percent), pointing devices ($116 million, up 4 percent), gaming ($69 million, up 23 percent) and audio-PC/wearables ($59 million, up 27 percent), said the company. Video collaboration had the biggest gain in Q4 year on year (70 percent to $37 million), followed by mobile speakers, sales of which grew 61 percent to $38 million, and home control, up 45 percent to $15.2 million, Logitech said. The company had Q4 sales declines in tablets and other accessories (45 percent to $17 million) and in the “other” category (82 percent to $108,000) for products transitioning out that are no longer strategic to the business, it said. Net income was $191 million for FY 2017 vs. $119 million the prior year, Logitech said, and operating income grew 53 percent to $197 million, a nine-year high. Logitech shares closed 3.2 percent higher Wednesday at $32.80.