malware
New Member
- Joined
- Nov 7, 2004
- Messages
- 5,422 (0.74/day)
- Location
- Bulgaria
| Processor | Intel Core 2 Quad Q6600 G0 VID: 1.2125 |
|---|---|
| Motherboard | GIGABYTE GA-P35-DS3P rev.2.0 |
| Cooling | Thermalright Ultra-120 eXtreme + Noctua NF-S12 Fan |
| Memory | 4x1 GB PQI DDR2 PC2-6400 |
| Video Card(s) | Colorful iGame Radeon HD 4890 1 GB GDDR5 |
| Storage | 2x 500 GB Seagate Barracuda 7200.11 32 MB RAID0 |
| Display(s) | BenQ G2400W 24-inch WideScreen LCD |
| Case | Cooler Master COSMOS RC-1000 (sold), Cooler Master HAF-932 (delivered) |
| Audio Device(s) | Creative X-Fi XtremeMusic + Logitech Z-5500 Digital THX |
| Power Supply | Chieftec CFT-1000G-DF 1kW |
| Software | Laptop: Lenovo 3000 N200 C2DT2310/3GB/120GB/GF7300/15.4"/Razer |
Logitech International today announced that it has withdrawn its Fiscal Year 2009 growth targets for sales and operating income due to the deepening global recession. The Company did not provide revised targets and plans to update investors on business conditions and performance during its briefing on third-quarter results on Jan. 20, 2009.
"During the December quarter, the retail environment deteriorated significantly," said Gerald P. Quindlen, Logitech president and chief executive officer. "We experienced varying degrees of weakness across all geographies and channels as our customers reduced inventory levels in the face of weaker consumer demand. Moreover, we expect the economic environment to worsen in the coming months and we are therefore taking significant actions to align our cost structure with what is likely to be an extended downturn."
In addition to ongoing actions aimed at reducing operating expenses, the Company plans to reduce its salaried workforce globally by approximately 15 percent. The associated restructuring charge will be announced with the Company's Q3 FY 2009 results and booked in the fourth quarter of FY 2009. The Company expects that the savings from the restructuring will begin to show in the first quarter of FY 2010.
"Although the external environment is more challenging than anything we've experienced before, we believe Logitech is very well positioned to manage through this downturn," continued Quindlen. "We have a strong cash position, no debt, and we continue to maintain market share across multiple segments and geographies. We remain confident in our strategy for driving long-term double-digit growth and we believe the well-considered actions we're taking now will result in an even stronger Logitech when the economic recovery begins."
View at TechPowerUp Main Site
"During the December quarter, the retail environment deteriorated significantly," said Gerald P. Quindlen, Logitech president and chief executive officer. "We experienced varying degrees of weakness across all geographies and channels as our customers reduced inventory levels in the face of weaker consumer demand. Moreover, we expect the economic environment to worsen in the coming months and we are therefore taking significant actions to align our cost structure with what is likely to be an extended downturn."
In addition to ongoing actions aimed at reducing operating expenses, the Company plans to reduce its salaried workforce globally by approximately 15 percent. The associated restructuring charge will be announced with the Company's Q3 FY 2009 results and booked in the fourth quarter of FY 2009. The Company expects that the savings from the restructuring will begin to show in the first quarter of FY 2010.
"Although the external environment is more challenging than anything we've experienced before, we believe Logitech is very well positioned to manage through this downturn," continued Quindlen. "We have a strong cash position, no debt, and we continue to maintain market share across multiple segments and geographies. We remain confident in our strategy for driving long-term double-digit growth and we believe the well-considered actions we're taking now will result in an even stronger Logitech when the economic recovery begins."
View at TechPowerUp Main Site