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, 9:15 AM
Thu, Jan. 22, 1:35 AM
Tue, Jan. 20, 5:35 PM
Thu, Jan. 15, 10:31 AM
- Like other Swiss ADRs, Logitech's (NASDAQ:LOGI) U.S. shares have risen in response to the Swiss National Bank's decision to give up its efforts to halt the franc's rise (by maintaining a 1.2/1 floor against the euro). Over in Zurich, shares are down 10%.
- The PC/mobile peripherals maker reports earnings at 10PM ET on Jan. 21. Yesterday, its Lifesize videoconferencing hardware unit unveiled two new systems (the Icon 400 and Icon Flex), as well as an update for its Lifesize Cloud videoconferencing app.
Fri, Jan. 2, 5:44 PM
- Dolby's (NYSE:DLB) High Dynamic Range (HDR) video tech "could be at the threshold of large-scale adoption," writes JPMorgan's Paul Coster in a CES preview note. He sees the adoption of Dolby Vision by the SMPTE (a key video standards body) acting as a catalyst for HDR uptake, thereby opening up a major new licensing opportunity for the audio tech leader.
- He also thinks Synaptics (NASDAQ:SYNA), which fell 6.7% today thanks to a Pac Crest downgrade tied to a possible Galaxy S6 socket loss, could outperform through CES. Coster assigns "a high probability" of Synaptics' fingerprint sensors "being introduced on one or more new smartphones, with the possibility that we will see the first example of area-touch fingerprint recognition."
- Coster offers more subdued remarks about Logitech (NASDAQ:LOGI): He thinks the mobile speaker and tablet keyboard/case markets (deemed Logitech's growth categories) are "crowded with competition," and that the tablet market is rapidly fragmenting.
- The iPad, which Logitech's tablet accessory sales remain heavily tied to, saw its unit share fall to 22.8% in Q3 (per IDC). Logitech's mobile speaker sales rose 143% Y/Y in calendar Q3 to $48.5M, while its tablets & other accessories sales fell 19% to $28.2M.
- Earlier: Coster expects strong CES showing from GoPro
Nov. 14, 2014, 8:18 AM
- Logitech (NASDAQ:LOGI) has proposed an FY14 (ends March '15) annual dividend of CHF0.26/share ($0.27/share), up 25% from FY13's CHF0.21/share. At current levels, the new dividend is good for a 1.9% yield.
- If approved by shareholders at Logitech's Dec. 18 annual meeting, the dividend's payout date is expected to be Dec. 30. The ex-dividend date is expected to be Dec. 24.
Nov. 7, 2014, 11:42 AM
- Due to Logitech's (LOGI -1.4%) recent hiring of auditor PwC for "non-audit, software consulting services," PwC has informed Logitech it's "not independent" with respect to FQ2. Logitech is "pursuing its options" for FQ2, and also for handling subsequent periods.
- PwC is still serving as Logitech's auditor for earlier periods. The peripherals maker previously disclosed it's restating its FY12 results due to "an accounting misstatement for inventory valuation reserves" for the discontinued Revue Google TV set-top.
- The company is working to file its FY14 10-K, and also its FQ1 and FQ2 10-Qs for FY15.
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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May. 12, 2014, 9:12 AM
May. 12, 2014, 9:05 AM
- Credit Suisse has upgraded Logitech (LOGI) to Outperform. The firm considers the peripherals vendor attractively priced following a selloff that has left shares trading at 12.8 2016E GAAP EPS, and sporting a 7.9% estimated 2016 free cash flow yield.
- Shares more than doubled from July to January, aided by investor enthusiasm for soaring iPad keyboard cover and wireless speaker sales. But they've sold off over the last two months, thanks in part to the ho-hum full-year guidance provided with Logitech's Q1 beat.
LOGI vs. ETF Alternatives
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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