Logitech Inc., a company that makes a variety of Mac peripherals, today announced that sales for its second fiscal quarter reached US$252 million, an increase of 16 percent over the same quarter last year, and beating company expectations.
Operating income was $25.7 million, an increase of 37 percent over the second quarter of the previous year and the company’s net income of $21 million ($0.42 per share) was 51 percent higher. Earnings per share were 50 percent higher than the second quarter last year.
For the six-month period ended September 30, as compared to the same period last year, total revenue grew 15 percent to $447 million; operating income grew 42 percent to $38.3 million; and net income grew 57 percent to $31.8 million.
Guerrino De Luca, president and chief executive officer, said, “we’re very pleased with this performance, and delighted with the continuing consumer demand for Logitech’s products across all categories as we enter the holiday selling season — particularly as the economy continues to struggle and overall consumer sentiment is weak.”
Part of the company’s recent success is attributed to growth in their OEM (original equipment manufacturer) business, which has helped offset declining personal computer peripheral sales.