Logitech sales up 2 percent to $478 million for Q1 FY 2014

Logitech sales for Q1 FY 2014 rose 2 percent to $478 million.

The growth was driven tablet accessories, PC gaming and wireless speakers that grew about 90 percent year over year.

The company posted a small operating profit compared to an operating loss of $59 million.

Net income for Q1 FY 2014 was $ 1 million compared to a net loss of $51 million.

Logitech’s retail sales for Q1 increased 5 percent — up 12 percent in the Americas and 4 percent in Asia, and down 3 percent in EMEA. OEM sales decreased 6 percent and sales for the LifeSize division decreased by 18 percent.

Bracken P Darrell, Logitech president and chief executive officer, said: “I’m happy to see double-digit sales growth in our Americas region. And I’m pleased with the performance in our growth categories: Combined, tablet accessories, PC gaming and wireless speakers grew about 90 percent year over year.

“Logitech continues to be focused on becoming faster and more profitable. We’ve shortened key product cycles and delivered early momentum for the product lines we launched into retail environments in Q1, including tablet accessories, PC gaming peripherals and our UE BOOM wireless speaker,” Darrell added.

Logitech expects sales of approximately $2 billion, operating income of approximately $50 million and gross margin of approximately 34 percent for FY 2014.

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