Logitech posts $525 million revenue for Q1

Well-known peripheral supplier Logitech announced that in the quarter ended March 31st, Q4 of fiscal year 2010 to them, Q1 of calendar year 2010 to most of the human race, their sales reached $525 million, up 29% on-year, while net income was of $24 million.

According to Logitech's report, retail sales this past quarter grew by 27% compared to the same period on 2009, with sales up by 54% in the Americas, 15% in EMEA (Europe, the Middle East and Africa ), and 10% in Asia, while OEM sales went up just 1%.

"After a challenging start to the year, we ended Fiscal Year 2010 with very strong sales and gross margin performance," said Gerald P. Quindlen, Logitech president and chief executive officer. "I'm very pleased that in Q4 we delivered strong sell-through growth and achieved double-digit sales growth in our three retail regions, as well as double-digit sales growth across all of our retail product categories."

For the quarter ending June 30th, Logitech has predicted a revenue hovering between $450 million and $465 million.