Operating income of $18.7 million was 56 percent greater than operating income of $12 million for the second quarter last year. Gross margin was 35.5 percent, an improvement of more than 180 basis points year-over-year.
For the six-month period ended September 30, 2001, as compared to the same period last year, total revenue grew 22 percent to $405.7 million; net income grew 41 percent to $20.3 million; and operating income grew 68 percent to $26.9 million.
As we celebrate Logitech´s 20th anniversary, we continue to believe in the soundness of our business model, which aggressively targets the growing aftermarket for peripherals, in addition to our traditional OEM customers and systems integrators, said Guerrino De Luca, president and chief executive officer. We are pleased with our most recent results, driven by consistently positive consumer response to our products.
We realize that the months ahead present significant challenges for our industry, as we assess consumer behavior in light of the current economic and political situation. While we intend to pursue a policy of prudence with regard to our operating expenses and asset management, our financial and strategic position has never been stronger. We see sustained demand for our product lines, and we remain optimistic in our outlook.
The Company reiterated its financial guidance for fiscal 2002, stating that it expects full fiscal year sales to grow by approximately 25 percent over fiscal 2001, with operating income increasing by 40 to 45 percent. For the third quarter ending December 31, 2001, the Company expects sales to grow by 20 to 25 percent and operating income to increase by approximately 40 percent over third quarter fiscal 2001.
SOURCE: COMPANY PRESS RELEASE
