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07.18.2007 - Logitech Announces Q1 Earnings

View Logitech-Press related news. FREMONT, Calif., July 18, 2007 and ROMANEL-SUR-MORGES, Switzerland, July 19, 2007 — Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced its financial results for the first quarter of Fiscal Year 2008. Sales for Q1 were $430 million, up 9 percent from $393 million in the same quarter last year. GAAP operating income was $24 million, up 1 percent from $23.8 million for the same quarter a year ago. GAAP net income was $25.6 million ($0.14 per share), compared to $30.1 million ($0.16 per share) in Q1 of FY 2007, which included an after-tax gain of $5.8 million ($0.03 per share) from the sale of shares of Anoto Group AB. Excluding this gain in the prior year, net income increased by 5 percent. Gross margin was 33.7 percent, a year-over-year improvement of 300 basis points compared to 30.7 percent in Q1 of FY 2007.

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NID: 16875 / Submitted by: The Spirit of Zuron
Categories: Press Release
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