PC and console accessories firm Logitech has said it is “on track” to hit its target of $3 billion in revenues in fiscal 2010, after reporting record financial results for its Q4 in FY 2007-2008.
In its tenth consecutive year of revenue growth, the company reported sales results of $601 million (€376.9 million), which was up 17 per cent from its Q4 result a year previous, which stood at $513 million €321.7 million) .
Operating income hit $66.1 million (€41.4 million) in the quarter, up 20 per cent year-on-year, from $55.3 million (€34.6 million).
"We are very pleased with our Q4 performance, including our return to growth in the video category," said Logitech CEO Gerald Quindlen.
"Our revenue growth of 17 per cent underscores the strength of our product portfolio and our geographic diversity, both key factors in our ability to deliver consistent growth over the last decade," he added.
"The strong momentum we carry into the new fiscal year, combined with a solid balance sheet, positions us to continue delivering double-digit growth in sales and profitability."