Thu, Oct. 22, 3:20 PM
- With an FQ2 beat in tow, Logitech (NASDAQ:LOGI) is reiterating FY16 (ends March '16) guidance for 7% constant currency retail sales growth and $150M in op. income in spite of weak PC and tablet markets.
- Mobile speaker sales were again a strong point in FQ2, rising 66% Y/Y to $80.6M. Gaming (+42% to $67.6M) and videoconferencing (+45% to $20.1M) were also standouts. PC/wearable audio was weak (-19% to $46.3M), as was tablets & other accessories (-34% to $18.5M) and home control (remotes, -33% to $12.6M).
- Gross margin fell 420 bps Y/Y to 34.6%. However, job cuts led operating expenses drop 1% to $145.2M. $40M was spent on buybacks.
- FQ2 results, PR
Wed, Oct. 21, 10:58 PM
Tue, Oct. 20, 5:35 PM| Tue, Oct. 20, 5:35 PM | 7 Comments
Thu, Jul. 23, 9:38 AM
- In spite of weak PC/tablet markets and a strong Swiss franc, Logitech (NASDAQ:LOGI) is maintaining FY16 (ends March '16) op. income guidance of $150M. Guidance for 7% constant currency retail sales growth is also reiterated; the revenue growth consensus (in actual dollars) is -2.3%.
- Product line performance: Mobile speakers and video collaboration (videoconferencing) were once more strong points: Sales respectively rose 41% and 39% Y/Y to $40.5M and $21.2M. Tablet & other accessories were soft, falling 41% to $18.8M. Gaming -7% to $43.7M; pointing devices +3% to $117M; keyboards/combos roughly flat at $105.8M; PC/wearables audio -6% to $45.7M, PC webcams +6% to $21.7M; home control (remotes) -17% to $10.3M.
- Financials: Gross margin (non-GAAP) fell 120 bps Y/Y to 36.7%. Operating expenses were nearly flat at $141.4M. Logitech ended FQ1 with $492.3M in cash (equal to roughly 1/5 of its market cap), and no debt.
- FQ1 results, PR
Wed, Jul. 22, 10:54 PM
Tue, Jul. 21, 5:35 PM| Tue, Jul. 21, 5:35 PM | 5 Comments
Wed, Apr. 22, 11:49 PM
Tue, Apr. 21, 5:35 PM| Tue, Apr. 21, 5:35 PM | 6 Comments
Wed, Mar. 11, 11:13 AM
- Logitech (LOGI -2.4%) uses its 2015 analyst day to reiterate guidance for 2015 revenue of $2.11B (in-line with consensus) and op. income of $185M. The company has also guided for 2016 revenue of $2.15B (slightly below a $2.16B consensus) and op. income of $150M.
- The PC/mobile/living room peripherals maker notes a strong dollar "will have a significant impact on our financial results moving forward," and that it's taking steps to deal with the issue, including "pricing adjustments and the further reduction of our global cost structure."
- Logitech promises to return $500M to shareholders over the next 3 years - $250M via dividends, and $250M through an existing buyback program. The board plans to request shareholder approval for $85M worth of 2015 dividend payments at this year's annual meeting.
- Logitech's analyst day slides
Thu, Jan. 22, 12:44 PM
- A strong dollar has led Logitech (NASDAQ:LOGI) to cut its FY15 (ends March '15) revenue guidance to $2.11B (below a $2.13B consensus) from $2.16B. However, op. income guidance has still been hiked by $15M to $185M.
- Gross margin rose 240 bps Y/Y in seasonally huge FQ3 to 36.5%, aiding Logitech's EPS beat. GAAP opex rose a modest 3% to $166.6M.
- Segment performance: PC gaming revenue +21% Y/Y to $70.2M. Tablets/other accessories -18% to $55.1M. Mobile speakers +86% to $62.3M (driven by UE Boom speaker sales). Pointing devices nearly flat at $141.8M. PC keyboards/desktops +5% to $114.1M. Audio (PC & wearables) -15% to $58.7M. Video +22% to $46.7M. Remotes -4% to $25.2M.
- On a sell-through basis, Americas sales were up 11% in constant currency,, Asia-Pac sales up 7%, and EMEA sales down 2% (down 9% in dollars).
- FQ3 results, PR, earnings slides (.pdf)
Thu, Jan. 22, 1:35 AM
Tue, Jan. 20, 5:35 PM
Oct. 23, 2014, 2:50 PM
- Logitech (NASDAQ:LOGI) is reiterating FY15 (ends March '15) revenue guidance of $2.16B; consensus is at $2.15B.
- The Q3 beat was fueled by a 143% Y/Y increase in mobile speaker sales to $48.5M. A 41% increase in remote sales to $18.8M also helped.
- Other segments: Tablets/other accessories (inc. iPad cases) -19% to $28.2M; pointing devices -2% to $127.7M; PC keyboards/desktops nearly flat at $105.7M; PC/wearables audio -17% to $58.7M; video +3% to $37.6M.
- Gross margin rose 270 bps Y/Y to 38.8%. Job cuts allowed opex to fall 5% to $147.2M.
- FQ2 results, PR
Oct. 23, 2014, 12:58 AM
Oct. 21, 2014, 5:35 PM
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Jul. 24, 2014, 12:38 AM
Logitech International SA together with its consolidated subsidiaries develops and markets hardware and software products that enables digital navigation, music and video entertainment, gaming and social networking.
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