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Filing in Focus: Logitech 10-Q, August 7, 2013
Logitech International SA (LOGI) has filed its form 10-Q for first quarter fiscal year 2013, after earlier announcing its performance approximately two weeks ago. The company reported a $52M swing in revenue, recovering from a $51.4M loss a year ago this quarter to net income of $1M. Revenues climbed slightly by 2% from a year ago of $468.6M to $477.9M. Retail sales from last year increased 4.6% to $413.2M while the company’s gross margin improved from 31% to 35.2%. Logitech’s marked improvement came mostly from sales in its tablet accessories, PC Gaming, and wireless speakers; all grew by double digits. Tablet accessories were by the far the largest driver, with sales rising 143% from last year to $38.6M. Cash and cash equivalents were down 11.6% from a year ago to $318.9M.