SanDisk reports record revenues while Logitech expects to make more money than expected in 2015

Logitech, SanDisk post impressive financial results

Logitech and SanDisk are featured in our latest financial reports roundup, following AMD’s 2014 results earlier this week.

Accessories vendor Logitech International announced financial results for its fiscal Q3 2015, with sales of $634 million and operating income of $65 million.

The firm has now increased its profitability outlook for fiscal 2015 from approximately $170 million to around $185 million in non-GAAP operating income.

“I’m excited about our strong performance in Q3,” said Bracken P. Darrell, Logitech president and CEO.

“We almost doubled sales in Mobile Speakers and also posted healthy growth in PC Gaming and Video Collaboration. Overall, despite the US dollar’s strengthening, our retail sales and profitability continued to grow and we generated robust cash flow. Based on these better-than-expected results and the strength of our product offerings, we have increased our full-year outlook for operating income for the second time this fiscal year.”

Meanwhile, flash storage specialist SanDisk announced results for Q4 and its fiscal 2014 year ending December 28th. Q4 revenue reached $1.74 billion while total revenue for fiscal 2014 was a record $6.63 billion, a seven per cent increase over 2013.

Q4 quarter net income was $202 million, down from last year’s $338 million, while net income for fiscal 2014 was $1.01 billion, compared to $1.04 billion in fiscal 2013.

“We delivered record revenue in 2014 with continued progress in shifting our portfolio towards high value solutions,” said Sanjay Mehrotra, president and CEO of SanDisk.

“Our SSD solutions reached 29 per cent of revenue in 2014, with strong growth from both client and enterprise SSDs. We are disappointed with our fourth quarter results, which were impacted primarily by supply constraints.

"We believe that NAND flash industry fundamentals are healthy, and we expect our financial results to improve as we move through 2015.”

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