Logitech Q4 FY 2014 Sales, Profit and Cash from Operations Exceed Expectations

[btarunr]

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full year of Fiscal Year 2014. Q4 FY 2014 sales were $485 million, up 3 percent over the prior year. "Our Q4 performance was strong, with sales, profit and cash generation better than expected," said Bracken Darrell, Logitech president and chief executive officer. "Q4 sales in our Growth category - PC Gaming, Tablet and Other Accessories, and Mobile Speakers - were up nearly 50 percent. "At the start of our fiscal year we said we would deliver strong sales in our Growth category, reduce operating expenses and improve profitability. We delivered on our commitments across the board, concluding FY 2014 ahead of our turnaround plan."



Highlights

• Q4 GAAP operating income was $7 million, with GAAP earnings per share (EPS) of $0.07, compared to a loss a year ago.
• Q4 non-GAAP operating income was $23 million, with non-GAAP EPS of $0.14, compared to $0.01 in the same quarter a year ago.
• FY 2014 GAAP operating income was $77 million, with GAAP EPS of $0.46, compared to an operating loss in the prior year.
• FY 2014 non-GAAP operating income more than doubled to $140 million, with non-GAAP EPS of $0.76, up from $0.31 a year ago.
• Cash flow from operations on a trailing twelve-month basis was $202 million, up 72 percent.

Outlook
Logitech confirmed its current FY 2015 outlook of $2.16 billion in sales and $145 million in non-GAAP operating income.

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[Chaitanya]

So leeching money from India seems to be working fine for them. Their products way overpriced in India and their after sales service is a pathetic joke.

 

[dj-electric]

In europe^, it's the exact opposite. All of it.

 

[Chaitanya]

In europe^, it's the exact opposite. All of it.

Logitech has managed to screw up in last 2-3 years. before that pricing was decent even after paying higher taxes. Service has always been bad to worse for their products in India. It takes atleast 15days for a simple replacement and to top that off you need threaten people at RPTech/logitech India with legal action for getting replacement on time.

 

[MAXLD]

And could be higher if they weren't so dumb towards G keyboards layouts, specially the current ones. They never did the old ones with certain languages (like Portuguese or so), but they did have Spanish and some others that were quite similar, the variety was quite decent.
But nowadays... not even Spanish, Italian,... it's only UK or US for any "QWERTY" based layout, differs a ton lot more on several keys. It's ridiculous. If it's a stock/distributor problem, Logitech at least should give us the option of ordering those specific layouts directly from Logitech site/store, but not even that. So damn disappointing that such a big company can't have a decent clever mentality and management. But can't expect much from a typical big company run by clueless tie-executives...

 

[Brusfantomet]

And could be higher if they weren't so dumb towards G keyboards layouts, specially the current ones. They never did the old ones with certain languages (like Portuguese or so), but they did have Spanish and some others that were quite similar, the variety was quite decent.
But nowadays... not even Spanish, Italian,... it's only UK or US for any "QWERTY" based layout, differs a ton lot more on several keys. It's ridiculous. If it's a stock/distributor problem, Logitech at least should give us the option of ordering those specific layouts directly from Logitech site/store, but not even that. So damn disappointing that such a big company can't have a decent clever mentality and management. But can't expect much from a typical big company run by clueless tie-executives...

Well, was a bit disappointed about them dropping the Norwegian keyboard layout, but we still have the pan Scandinavian tho (you Americans don't known hat you are missing with that tiny return key of yours)

Also, with the prices they charge for some of the G keyboards one would assume that they at least made some money last year, but maybe the liberal return policies they have here in Europe have something to do with that.

 

[rooivalk]

I always thought that Logitech is standard priced. Lower than Logitech is cheap and Higher than that is expensive.

 

[Sir Alex Ice]

Wow, more proof that Dr. House is right about everybody being an idiot. About 60% of what you pay for Logitech is profit. The rest is marketing and poor quality materials.