Logitech Q3 Sales Grow 85%, Operating Income Triples

[btarunr]

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the third quarter of Fiscal Year 2021. "This quarter's record results demonstrate the strength of our portfolio, addressing long-term growth trends in remote work and education, video collaboration, esports, and digital content creation," said Bracken Darrell, Logitech president and chief executive officer. "We are increasingly investing in our capabilities and people for the growth potential we see in the future. Logitech has never been more relevant to our customers' work, play and creativity."

Logitech raised its Fiscal Year 2021 annual outlook to between 57 and 60 percent sales growth in constant currency, and approximately $1.05 billion in non-GAAP operating income. The Company's previous outlook was between 35 and 40 percent sales growth in constant currency, and a range of $700 million to $725 million in non-GAAP operating income.

• Q3 sales were $1.67 billion, up 85 percent in US dollars and 80 percent in constant currency, compared to Q3 of the prior year.
• Q3 GAAP operating income grew 248 percent to $448 million, compared to $129 million in the same quarter a year ago. Q3 GAAP earnings per share (EPS) grew 222 percent to $2.22, compared to $0.69 in the same quarter a year ago.
• Q3 non-GAAP operating income grew 214 percent to $476 million, compared to $152 million in the same quarter a year ago. Q3 non-GAAP EPS grew 192 percent to $2.45, compared to $0.84 in the same quarter a year ago.
• Cash flow from operations was $530 million, compared to $181 million in the same period a year ago.

For more information, visit the Logitech investor relations page.

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[micropage7]

one of the effect of WFH

 

[Sir Alex Ice]

Of course, they tripled the price of webcams. Exploitative and speculative bastards.
Others merely doubled their prices, because it is ok to profit but it is shitty to price gouge.

Especially when your Logicrap products where already among the most expensive.

 

[repman244]

They should also double their product quality...nothing but problems with my keyboard and mouse.

 

[1d10t]

Oh yeah, that juicy money from doubled the price of almost all webcams.

 

[amit_talkin]

They should also double their product quality...nothing but problems with my keyboard and mouse.

Never faced any issue with any Logitech products I own so far. One of the basic keyboard I bought in 2008 is still working fine.

 

[ShurikN]

And yet they still couldn't be bothered to put type C on a $150 mouse.

 

[claylomax]

And don't forget they reduced their warranty.

 

[Aquinus]

And yet they still couldn't be bothered to put type C on a $150 mouse.

My MX Master 3 has a USB-C port on it and it's a $100 USD mouse.

 

[Xaled]

covid + trump can let companies make miracles
even when your best sold products are low quality 10 years old webcams and mice with double clicking problems

 

[ShurikN]

My MX Master 3 has a USB-C port on it and it's a $100 USD mouse.

G pro wireless released in late 2020 doesn't.

 

[INSTG8R]

Never faced any issue with any Logitech products I own so far. One of the basic keyboard I bought in 2008 is still working fine.

Still using a G19s and a 4 year old G502 ¯\_(ツ)_/¯

 

[repman244]

Never faced any issue with any Logitech products I own so far. One of the basic keyboard I bought in 2008 is still working fine.

G603 developed double clicking problems, and scroll wheel problems - after checking online it turns out I'm not the only one.
G613 keyboard developed double typing or some keys randomly wouldn't work.

All of those issues came just after the warranty period was over, so I can just toss everything in the trash.

 

[Kapone33]

G603 developed double clicking problems, and scroll wheel problems - after checking online it turns out I'm not the only one.
G613 keyboard developed double typing or some keys randomly wouldn't work.

All of those issues came just after the warranty period was over, so I can just toss everything in the trash.

I just cleaned my G510 on the weekend and I returned to my G700 too (battery life sucks). There was a time when build quality was one of the things Logitech was known for. I will definitely say though that the MX900 performance is the best wireless kb/mouse combo I have ever used.

 

[BArms]

G603 developed double clicking problems, and scroll wheel problems - after checking online it turns out I'm not the only one.
G613 keyboard developed double typing or some keys randomly wouldn't work.

All of those issues came just after the warranty period was over, so I can just toss everything in the trash.

Logitech mice are extremely unreliable for me too, they virtually never last much more than a year. I've gone through 5 of them in as many years. Microsoft bluetooth mice are almost as bad.

I bought a wired Zowie mouse for my desktop PC a couple years ago and so far it's been flawless.

 

[Chrispy_]

COVID has made me realise how stagnant the webcam market was. Most of what Logitech offered was 720p with 1080p compatibility only in certain codecs (Skype, often quite specifically).

They are cheap plastic trash for the most part and any $10 stupidly-named Amazon flea-market special is likely to be just as good. $20 for a Jelly-Comb or AUKEY 1080p camera will likely actually be a 1080p60 webcam, something Logitech were happy to hide behind a triple-digit pricetag, whilst still charging $50 for a 720p30 piece of junk.

Logitech are now something I consider as the "lowest common denominator". They make something barely-adequate and then package it up in a nice box and charge way too much for it.

 

[INSTG8R]

My only issue is they bought out Saitek but have made ZERO products from them

 

[elghinnarisa]

COVID has made me realise how stagnant the webcam market was. Most of what Logitech offered was 720p with 1080p compatibility only in certain codecs (Skype, often quite specifically).

They are cheap plastic trash for the most part and any $10 stupidly-named Amazon flea-market special is likely to be just as good. $20 for a Jelly-Comb or AUKEY 1080p camera will likely actually be a 1080p60 webcam, something Logitech were happy to hide behind a triple-digit pricetag, whilst still charging $50 for a 720p30 piece of junk.

Logitech are now something I consider as the "lowest common denominator". They make something barely-adequate and then package it up in a nice box and charge way too much for it.

This is pretty much what I was thinking of as well. I bought a logitech C920, top of the line like... what 7 years ago? Which is when I bought it. And sure, its a decent camera. But from day one I was always disappointed in the quality of it. Its horrible, even more so if you happen to not sit directly in a spotlight. They still sell them today, though I have no idea what the difference is between C920, C922 or C930. And they cost about as much now as when I bought mine all those years ago. Back then, 80 bucks for it was worth it compared to what else was around, but 80 bucks for a C920 today? I mean its crap.
I would have though they would push some quality webcams out over the years when streaming became so popular, every streamer wants a good camera.

Speaking of that, has there been any decent webcams made in the last few years, in general that is not just from logitech?

 

[Xaled]

This is pretty much what I was thinking of as well. I bought a logitech C920, top of the line like... what 7 years ago? Which is when I bought it. And sure, its a decent camera. But from day one I was always disappointed in the quality of it. Its horrible, even more so if you happen to not sit directly in a spotlight. They still sell them today, though I have no idea what the difference is between C920, C922 or C930. And they cost about as much now as when I bought mine all those years ago. Back then, 80 bucks for it was worth it compared to what else was around, but 80 bucks for a C920 today? I mean its crap.
I would have though they would push some quality webcams out over the years when streaming became so popular, every streamer wants a good camera.

Speaking of that, has there been any decent webcams made in the last few years, in general that is not just from logitech?

I am no camera expert but after I purchased C922 recently I can agree with you that it is a terrible camera from all aspects, even when compared to my 4 years old phone's front camera and here is why:
1-Very average or low image quality even in bright environments, and terribly bad in low light environments (noise is almost there)
2-Very poor face detection and auto exposure, you have to adapt your work space to the garbage camera's needs!
3-Unnecessarily large and heavy, probably to get stability instead of providing optic image stability
4-Not ergonomic at all, you cant rotate it, relatively short cable.
all these features are available in almost all mobile phone's front cameras. I just dont know why nobody is using cameras used in mobile phones as webcams and sell them. it would amazing to benefit from the advancement in that field. just image using iphones or samsungs camera as a webcam.