Logitech sales grew 85 percent in the most recent quarter

[Shawn Knight]

Why it matters: You can add Logitech to the growing list of tech companies that not only survived the pandemic, but thrived during it. The Swiss-American peripheral maker in its latest earnings report said sales for the third quarter of fiscal year 2021 reached $1.67 billion, an increase of 85 percent compared to the same period a year prior.

Operating income grew an impressive 248 percent to $448 million, far surpassing the $129 million generated in the year-ago period, while non-GAAP earnings per share reached $2.45. Analysts were expecting earnings to be closer to $1.02 per share.

A year ago, investors earned just $0.84 per share for the three-month period.

As the pandemic ramped up in the early part of 2020 and companies started sending employees home en masse to work remotely, many of them had to scramble to assemble makeshift home offices. Companies like Logitech that sell products such as keyboards, mice and webcams suddenly found themselves in a prime position to capitalize.

A steady stream of new products across its portfolio hasn’t hurt, either.

Logitech also raised its fiscal year 2021 annual outlook to between 57 percent and 60 percent sales growth from its previous outlook of between 35 percent and 40 percent.

Share value is down around 3.4 percent as of writing but is up more than 104 percent compared to the same period in early 2020.

Image credit: Ismail Sadiron, ipanacea

Permalink to story.

https://www.techspot.com/news/88334-logitech-sales-grew-85-percent-most-recent-quarter.html

 

[Nobina]

Make cheap mice that easily break so people buy multiple for backups = profit.

 

[QuantumPhysics]

Logitech lucked out in 2020. They were making some great peripherals and once the "work at home", "school at home" quarantine started, they were one of the most well positioned.

Most people bought their Web Cameras.

I bought their X-56 Rhino and G Pedals.

glad I was able to get their stock during the crash - along with AMD.

 

[VitalyT]

I use their exact camera from the picture here, plus wireless keyboard K800, which is excellent! Sometimes things just perfect, and so no need to redesign them. But sometimes things are left completely in the dust for no good reason. For Logitech, that's Z906 sound system, which they produced many years ago, but have been very lazy updating it, still selling the original.

Logitech is the company that doesn't create much anymore, like Intel, they have been trying to capitalize on its former glory. This is easy to see even from the fact that most of their products on the official website are asking for much more money than what they sell for world-wide. For example, they want $130 for my K800 keyboard, which Amazon sells for $49. That's a disgrace.

glad I was able to get their stock during the crash - along with AMD.

You have been gloating about your investments on TechSpot for as long as I remember. Unbecoming as it is, maybe it is time you find a better-suited forum for this?

 

[Neatfeatguy]

Make cheap mice that easily break so people buy multiple for backups = profit.

You're thinking of Razer.

I've been using my G502 mouse for 4 years now without any issues.

My Razer mouse I had literally broke 2 days after warranty (middle mouse wheel failure - wouldn't scroll or click) and I fought with constant tracking issues and fought with the horrific Synapse software constantly....Razer said they wouldn't do anything with it since the mouse was out of warranty. That was the last (and only) piece of hardware I've purchased from Razer, I won't use them again.

So far my G502 has lasted twice as long as my Razer mouse did and I haven't had any issues whatsoever with it. No tracking problems, no issues with the Logitech software and no issues with buttons; she's been working just fine.

 

[trparky]

Make cheap mice that easily break so people buy multiple for backups = profit.

Tell that to my Logitech M705 that I've had for nearly five years and is still working great even with Diablo 3 which is known to be a mouse killer of a game.

 

[Nobina]

Tell that to my Logitech M705 that I've had for nearly five years and is still working great even with Diablo 3 which is known to be a mouse killer of a game.

Hope it serves you well for another 5 years.