BARCELONA, SPAIN: Logitech International SA does not see much restocking in its markets, and expects retailers to remain very cash-flow conscious, its chief financial officer said on Wednesday.
Erik Bardman, CFO of the world's top computer mouse maker, said on Wednesday he was "very comfortable" with the company's long-term gross margin target of 32-34 per cent.
Bardman said he sees a positive impact from the launch of Microsoft's Windows 7 launch as the retail channel is refreshing the offering.
"A lot of stores did refresh of their stores, how the products are displayed," Bardman told the Morgan Stanley Annual Technology, Media and Telecoms Conference in Barcelona.
Last week Logitech said it is buying privately held LifeSize Communications for $405 million, bolstering its position in the much-prized video communication market, which is seen as a key source of future growth. "We are very excited about the video, and we are very excited about Lifesize," Bardman said. "They are absolutely a pioneer in very affordable, very high quality."
Video technology is increasingly interesting with technology firms, with Cisco earlier this week raising its offer for Tandberg by 10 per cent to 19 billion Norwegian crowns ($3.39 billion).