Logitech increases profit vigorously
Logitech today announced another record quarterly result as well as the best annual result ever achieved. In the fourth quarter of fiscal 2002, which ended March 31, 2002, the company had sales of 256 million US dollars, an increase of 34% compared to the same quarter of the previous year.
At that time, sales were still $ 190 million. Operating profit rose 114% year over year to 28.1 million. The net profit has doubled compared to the previous year's net profit for the same period from 10.8 million to 21.5 million US dollars.
For the full fiscal year, Logitech reported revenues of $ 944 million, an increase of 28% over fiscal 2001. While operating income rose 78% year over year from $ 55 million rose to $ 97 million, net income increased 66% from $ 45 million to $ 75 million.
The company is revising its fiscal 2003 growth targets to the top End of the last indicated bandwidth. It is now a conversion of 1.1. Billion US dollars (an increase of 16% over fiscal 2002) and an operating profit of 120 million US dollars (an increase of 23%) planned.