Logitech Reports Best Sales Growth In 5 Years
Logitech International who last month acquired headphone brand Jaybird, has delivered their best annual sales growth in five years.
The Swiss based Company reported a strong close to the fiscal year financially, with sales for the quarter reaching $431 million.
Sales for the fiscal year reached $2.02 billion, up 1 percent compared with the previous fiscal year.
Full-year retail sales were $1.95 billion and grew 9 percent in constant currency.
GAAP operating income was $129 million.
“In fiscal year 2016, we delivered our best annual retail sales growth in five years and better-than-expected profitability,” said Bracken Darrell, Logitech president and CEO. “Sales in our gaming category grew 23 percent, mobile speakers grew 37 percent and video collaboration grew 51 percent. Together, our mice and keyboard categories also grew 6 percent”
He added”This demonstrates our ability to innovate across a diverse portfolio — strong innovation that, when combined with disciplined cost management, drives profitable growth.”
“We look forward to delivering another year of fantastic new products and are optimistic for the solid growth and profitability they will generate,” Darrell added.