Turtle Beach and Logitech Report Historic Sales Numbers in Q4 2019 Earnings
- U.S. peripheral manufacturer Turtle Beach reported net revenues of $102M USD for Q4 2019, generating a profit of $20.4M during the period.
- Swiss peripherals manufacturer Logitech reported net revenues of $903M for its Q3 FY 2020, which ended Dec. 31; generating a profit of $118M during the period.
- Logitech recorded its biggest quarter in sales revenues in the company’s history, while Turtle Beach recorded the second-highest quarter in sales in the company’s history.
Peripheral manufacturers Turtle Beach (Q4 2019) and Logitech (Q3 FY 2020) reported their earnings for the last quarter of 2019 ended Dec. 31. While the financials of Logitech and Turtle Beach can’t be compared directly due to differences in their business model and size, Logitech’s market capitalization is $6.5B compared to Turtle Beach’s $74.3M; looking at both earnings roughly outlines the current gaming peripherals market situation.
Due to Christmas-related sales, the last quarter of the year usually sees the highest revenue generated for both companies. For the period spanning from Oct. 1 to Dec. 31, Logitech and Turtle Beach reported historic sales revenues, respectively.
Turtle Beach CEO Juergen Stark said in a release that “our 2019 sales were the second-highest in our history. We anticipate continued growth in our PC gaming accessories sales in 2020 and plan to invest in product and brand development to increase our share in this attractive portion of the market.”
San-Diego-based Turtle Beach generated net revenues of $102M in the period (compared to $11.3M in the same period of 2018). The company explains the decrease despite consumer demand remaining above historic levels with an expected decline of its record levels of demand in the prior year driven by new headset users buying their first headset for battle royale games.
A noteworthy figure during the period were the operating expenses for Turtle Beach in the fourth quarter of 2019 of $22.3M (compared to $17.4M in Q4 2018); the increase is primarily due to incremental costs associated with the company’s ROCCAT acquisition.
Turtle Beach produced a net income of $20.4M compared to $24.6M in the same period of 2018.
Turtle Beach’s Swiss competitor Logitech generated net sales of $903M compared to $864M in the same period of 2018. The growth was attributed in part to the company’s gaming category, which returned to double-digit growth, with sales up 16%.
Logitech president and CEO Bracken Darrell reported that “we delivered our biggest quarter in sales and profit in company history, topping $900M in quarterly sales for the first time ever. Our three largest businesses – Gaming, PC Peripherals, and Video Collaboration – all had robust growth, including double-digit growth in Gaming and Video Collaboration.”
In total, Logitech created a net income of $118M for the period compared to $113M in the same period of 2018.
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