Logitech’s sales down, lowers 2012 outlook

 Logitech International’s sales for Q3 FY 2012 were $715m (€545m), down 5% from $754m (€575m) Q3 2011. Changes in exchange rates did not have an impact on sales compared to the prior year, it says.

Retail sales across the EMEA region declined by 5% y/y and by 8% in the Americas, while in Asia it went up by 4% y/y. “Large categories such as cordless mice and cordless keyboards achieved strong y/y sales growth, despite the product gaps that exists across many of our retail categories” says Logitech chairman and CEO Guerrino De Luca.

OEM sales decreased by 24% and sales for the Life&Size division grew by 6%, the company says.

Net income fell to $55m (€42m) from $65m (€50m) in the same quarter last year while operating income was down 8% counting year-over-year.

Logitech International has lowered its outlook for fiscal year 2012 and expects sales of approximately $2.3bn (€1.8m) and operating income of around $60m (€46m). The gross margin for the full year continues to be estimated to reach approximately 33%.

“Since we last provided our outlook for fiscal year 2012 at the end of October, several factors have changed. Most significantly, the euro has weakened considerably during the last three months. In addition, webcams and remotes continue to be impacted more than expected by product portfolio and market weakness” explains De Luca.