| ZURICH, April 26
ZURICH, April 26 Logitech is looking at
acquisitions to accelerate growth and help expand into new
product categories, Chief Executive Bracken Darrell said on
Wednesday after the computer peripherals maker's fourth-quarter
results beat forecasts.
"We are always looking at all kinds of start-ups; I meet
about five founders per week," Darrell told Reuters.
"Our strategy does include looking where we can accelerate
or differentiate our existing category development. We are
generally looking at small bolt-on acquisitions, but we are not
dependent on it."
Logitech, the world's largest maker of computer mice, posted
a 52 percent increase in net profit during the three months
ended March 31. Sales rose 15 percent to $496
million, ahead of forecasts.
Analysts at Baader Helvea described the figures as a strong
end to the year, while the company's shares were 5 percent
higher in pre-market indications.
Darrell, a former Procter & Gamble executive who took
over as Logitech CEO in 2013, has led a turnaround at the
company which also makes mobile speakers and detachable
keyboards for tablet computers.
He highlighted growth in nearly all the company's product
categories during its fourth quarter. Despite tablet computer
peripheral sales declining, there were no plans to ditch the
business, which Darrell described as "very strategic".
Research was under way into new product areas to provide new
growth engines, he added.
"We are always looking at 10 or 13 new categories," he said.
"A lot of these won't launch, but we are optimistic that some of
them will be coming out.
"But we don't need new categories, we can deliver what we
have committed without entering new categories."
Logitech, based in Switzerland and the United States, said
in March it expected high-single-digit sales growth in constant
currencies and $250-260 million in non-GAAP operating income for
its next financial year which ends in March 2018.
Bracken confirmed the guidance, and his commitment to the
"I absolutely plan to stay, I am 100 percent committed," he
said. "I came here for a 10-year-plus run and I'm not even
half-way through what I intend to do."
(Reporting by John Revill; Editing by Michael Shields)