Logitechs profits up

Logitech today announced the results for the first fiscal quarter of the year. They reported that profits had increased from $22.4 million in Q1 2005 to $30.1 million in the same period this year, a 35% year-on-year increase. The company also noted that sales had increased 20 % during the quarter, with all sectors reporting growth.

How could a company not feel good about a 35% increase in profits? Logitech doesn’t plan to stop these increases though. The CEO of the company states that cool new products released later this year will accelerate the profits further.