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I am waiting for it to slip so I can buy more. It doesn't want to go down enough though.
3 insiders/directors bought on the open market at $7.87 on Sept 4th.
Congrats! I missed the opportunity to buy more but I'm certainly a believer. Especially since we haven't even seen all blockbuster accessories for the (new) iPhones.
This train is on the right track and gaining speed.
The turn-around is well underway.
A slew of new products and terrific product reviews from around the world are propelling excitement. I've bought all I can afford to buy until I see more success in the financials.
New Products ... New Products ... New Products ... and there was a big buyer taking a position today.
Everything is on the fast track right now.
European economies picking up will help LOGI.
German Economy Rebounds On Spending, Investment
Germany confirmed its robust recovery during the second quarter, with domestic spending and investment boosting growth to the fastest pace since the start of 2012. The economy expanded as initially estimated by 0.7 percent in the second quarter from the previous three-month period, detailed results published by Destatis showed Friday. (Aug 23, 2013)
U.K. Q2 Growth Exceeds Initial Estimate
The rebound in exports and strong investment helped the U.K. economy to recover at a faster-than-initially-estimated pace in the second quarter. The economy expanded 0.7 percent sequentially in the second quarter, the Office for National Statistics said Friday. The rate exceeded the initial estimate of 0.6 percent and the first quarter's 0.3 percent expansion. (Aug 23, 2013)
Eurozone Private Sector Activity Gains Momentum
This should be good for Logitech.
8/22/2013 7:05 AM ET
Eurozone's private sector business activity expanded at the sharpest pace in more than two years in August, driven by the robust performance in Germany, preliminary results of the purchasing managers' survey by Markit Economics revealed Thursday.
Although the survey suggests that the region will gain momentum going forward, the ongoing contraction in France is likely to weigh on the pace of recovery.
The headline Eurozone composite output index, a gauge of business activity in both manufacturing and services, rose more-than-expected to 51.7 in August from 50.5 in July. The improvement for the fifth successive month took the reading to a 26-month high.
Economists had forecast the index score to rise to 50.9. Index readings above 50 indicate expansion of the sector, while readings below 50 suggest contraction.
According to Markit Chief Economist Chris Williamson, the economic picture from the surveys is coming into line with policymakers' expectations of a modest yet still fragile return to growth.
However, Capital Economics Chief European economist Jonathan Loynes noted that, for now at least, growth remains a long way short of the rates required to start to address the region's debt crisis.
The manufacturing Purchasing Managers' Index rose to 51.3 in August from 50.3 in July. This was the highest reading in 26 months and was above the expected score of 50.7. The output index in manufacturing rose to 53.4, a 27-month high, from 52.3 in the previous month.
The services PMI climbed to a 24-month high of 51 from 49.8 in July. The consensus score was 50.2.
Both manufacturers and service providers reported higher output, with goods producers posting the larger increase. Output growth in manufacturing was the fastest since May 2011, while services showed the biggest rise since August the same year.
New business received by Eurozone's private sector firms increased marginally. While new orders received by manufacturers rose for the second straight month, and at the sharpest pace since May 2011, new business at service providers continued to decline.
Employment dropped for the twentieth successive month, with rates of job losses accelerating slightly in both manufacturing and services compared with July. However, the overall rate at which headcounts are falling has eased since earlier in the year.
Due to higher oil and fuel prices, input costs rose at the fastest rate since January. But output prices fell further as companies offered discounts to boost sales.
Underpinned by new business growth, the German private sector continued to expand, while the downturn in France worsened. At 7-month high, Germany's composite PMI was 53.4 in August versus 52.1 in July.
Meanwhile, the French private sector shrank at a faster pace driven by lower output in both the services and manufacturing sectors. The French composite output index dropped to 47.9 in August from July's 17-month high of 49.1.
by RTT Staff Writer
I "second" the following:
The turnaround is actually progressing.
Tablet Accessories Still Very Strong
The Logitech turnaround thesis is actually surprisingly simple: optimize the traditional PC markets for profitability in order to fuel the three core high growth areas: PC gaming products, tablet accessories, and wearable & wireless audio products. Tablet accessories were up 142% Y/Y, largely driven by continued tablet growth as well as continued market share gains in the space. The trick for Logitech has been adapting to the more breakneck pace of the tablet accessory cycle, and it seems that the company is getting a solid handle on this business.
Now, what's interesting here is that while Logitech offers tablet accessories for both the iPad as well as various Android devices, the product line is very clearly much richer for the iPad than it is for the Android side of things, with the company's site listing 12 products for the iPad, but just one for Android/Windows. I would be interested to see if, going forward, the non-iOS business becomes more substantial for the company, particularly in light of Apple's continued share loss (although the iPad is still growing, and Logitech doesn't have 100% share, which means the iOS growth opportunity is still attractive).
PC Gaming - Finally Back In The Game
As I noted in my original thesis, PC gaming is a growth market, and as a result accessories that cater to this space are also growing. However, Logitech had taken its eye off the ball in this space and lost significant market share, despite being one of the most recognized brands in this space. In the most recent quarter, however, it looks like management really delivered on its promise to try to take back share, as sales in the PC gaming segment were up 50% Y/Y from $26M to $39M, far outpacing the 20-30% projected industry CAGR. There is still significant work to do here, but a look at the product catalog, reviews, and even testing out a good number of the more recent Logitech products helps to drive my confidence that the company will continue to rebound here.
Wireless And Wearable Audio Also Showing Signs Of Life
The final growth vector - wireless and wearable audio - was also up a solid 31% Y/Y. I'm largely encouraged by the results here, particularly as the segment is divided into two distinct parts: wireless speakers, which the company expects will see an industry CAGR in the low 60% range, and then the earphone market which is significantly less robust (and far more vulnerable to commoditization, so the company needs to pick and choose its battles more carefully). My only concern here is that while the company continues to differentiate on sound quality and aesthetics on the wireless speaker side of things, the competitive threats may not be so easy to dismiss, which poses a threat to the margin story here.
The Non-Growth Businesses: A Mixed Bag
While Logitech has deftly maneuvered its business to focus on the growth businesses, it is important to keep an eye on how the "non-growth" businesses are doing, particularly as these still represent a significant portion of the company's revenue and gross profit dollars.
PC keyboards & desktops were actually up 3.7% Y/Y, which points to market share gains given the weak environment. Now, interestingly, management indicated on the call that there was still room for continued market share gains over the foreseeable future, which helps to allay fears that the company had hit a saturation point here. PC audio, on the other hand, saw a dramatic slump (16% Y/Y), largely due to the fact that the product lineup here has not been updated in years, coupled with a weak end market. I expect Logitech to do better on iterating new products here to offset some of that weakness, but this will still be a challenging business long term.
Pointing devices were down about 1% Y/Y, which is pretty solid considering the weak PC market. Video (which includes webcams) was down about 5%, playing into the weak PC story.
All-in-all, Logitech seems to be managing these businesses well (although the long thesis would be materially diminished if the company relied solely on them), and the share gains and cost management here should help to keep profitability largely intact as the growth areas drive the company forward.
Conclusion
The Logitech growth vectors seem to be playing out as expected, and the legacy businesses seem to be doing quite well, particularly as share gains and product refreshes help to mitigate the effects of a weak underlying market. I still think shares go higher from here and that investors willing to be patient will be amply rewarded as the story continues to unfold.
Logitech holding up nicely in this climate...
I am thinking that investor disinterest may take hold during the last 2 weeks of August. It wouldn't surprise me to see LOGI trade near $6.70 levels or below.
I am a believer in LOGI but I think most people are not; it's still under the radar. Until the institutions start to step back in, the share price will probably falter again despite the earnings beat.
I hope so, because once the numbers start telling the truth about the turn around, the institutions will start coming back and there won't be any more opportunities to buy in the 6's.
LOGI is forecasting $50MM net profits in the coming fiscal year.
Based on the reviews I keep reading, I believe them.
Absolutely, some high ranking publications have great reviews on Logitech products... I think Logitech is a growth story again, thanks to new products, better design, marketing and cost cutting.
I especially liked the Gizmodo India story: Since When Are Logitech Products So Pretty?
Thinking of buying some more shares. Only not sure when to time it for maximum returns.
They keep getting great product reviews. I keep picking up on them and reading them from all over the world.
The more positive reviews I see the more convinced that that next reporting period is going to be terrific.
Their surprise earnings beat was reported in India.
Here is an example of a great review at the Apple Store:
http://store.apple.com/us/ipad/ipad-accessories/speakers?m.tsOtherFeatures=bluetooth&m.manufacturer=logitech
Here is another one.
http://tech.pnosker.com/
Logitech UE Boombox Wireless Bluetooth Speaker Review
Patrick Nosker July 30, 2013 0
http://i1.wp.com/tech.pnosker.com/wp-content/uploads/2013/07/UEBoombox2.jpg?resize=1500,1061
The last time I stopped by the Ultimate Ears headquarters in Irvine, California I had a nice discussion with Chuck Reynolds (former Worldwide Director of Sales at Ultimate Ears and now Director of Sales at JH Audio) and Philippe Depallens (VP and General Manager at Ultimate Ears by Logitech) about the acquisition of the Ultimate Ears brand by Logitech. I thought at the time it was pretty interesting business decision that a multi-billion dollar a year company would purchase a small custom audio manufacturer with a small and expensive line of universal in-ear monitors. Philippe and Chuck mentioned that one day I might see some UE DNA be included in other Logitech products. Well the Logitech UE Boombox is a perfect example of the audio DNA from Ultimate Ears integrating into the manufacturing superpower genome of Logitech.
When Logitech started diluting the UE product line with the Ultimate Ears 100 earphones I thought Logitech was only bringing the UE line downhill. Then came the UE Personal Reference monitors which went in the complete opposite direction. Now Logitech was flexing its monetary muscle to make the UE brand cover the entire spectrum of sound. Then when I heard that there was going to be a new Logitech speaker system called the UE Boombox, I didn’t know what to think.
I’ve now had my UE Boombox for many months. Carefully testing every listening experience I could, monitoring battery life, and enjoying it in almost all environments, I now have enough to write a comprehensive review of its abilities. Let me start with this: The UE Boombox is one of the best sounding portable speaker systems I have ever heard. If that’s all you wanted to know, go ahead and buy one now. If you want to know why it’s so great, read on.
The Boombox is classy. With a gorgeous industrial design featuring a brushed aluminum finish along with a rubberized bottom, it looks better than most portable battery-powered speakers. The controls are ultra-simple to use with a gigantic volume up/down rocker button on one side and a bluetooth pair button, volume on/off switch, 3.5mm input jack, and AC adapter input on the other.
The speaker can pair with three devices simultaneously and pairing is as easy as holding the pair button down until you hear a tone. The bluetooth range is listed at 50 ft. but in reality it’s closer to 35. The battery life is listed at 6 hours but I never got below 7 with the volume at a reasonably loud level. After several months of usage the battery life was roughly 10 minutes shorter so the longevity of the built-in battery is quite good.
Now let’s get to the sound. Featuring a quad driver system with two 0.5? tweeters, two 3? woofers, and four 2.6? passive radiators, the sound signature is definitely what I would place along with “UE.” I was reminded a lot of my Ultimate Ears 700 while listening to the Boombox. The listed frequency response is 65 Hz to 18,000 Hz. I would say this is reasonable as very deep bass lacked a bit, but what can you really expect from a portable boombox? The sound was balanced throughout the spectrum but what really shined was the ability for the Boombox to accurately and clearly produce treble.
I compared the UE Boombox to a Bose SoundLink II Bluetooth speaker ($299) and the UE was better in almost every way compared to the Bose system. The Bose only won the battery life contest with 8 hours and 10 minutes vs the UE Boombox 7 hours and 3 minutes, and the size/weight contest (Bose is smaller and lighter).
Still, the UE Boombox makes up for all that with its significantly more powerful sound. The Bose produced more directional sound whereas the UE Boombox sounded roughly the same from a much wider angle. All-in-all, the UE Boombox is a serious win. The child of a new relationship between Logitech and Ultimate Ears has truly created something special.
Logitech UE Boombox Wireless Bluetooth Speaker – $249.95
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Thanks, great read!
Hope they can further accelerate their product development. Logitech working on new iPhone gaming accessories might help too, looks promising for Q4.
I found LOGI a few months ago and bought it. This won't be a blockbuster buy, but I did think a company with $2 billion in sales could correct mistakes of it's own making.
Here's an interesting article about the company.
Logitech: A Classic Turnaround Play With Several Growth Catalysts
Jul 16 2013, 14:00
Logitech (LOGI) is best known as a popular PC accessories supplier. However, both the secular decline in the traditional PC segment, coupled with execution missteps in a number of core growth areas, has left the shares trading near multi-year lows as investors appear to have all but given up on the name. I believe that this fear is overdone and that the firm's very credible turnaround strategy, coupled with its healthy balance sheet and leadership brand, should drive significant long-term upside.
The "New" Logitech
What lends credibility to the turnaround strategy at Logitech is that management has been incredibly straightforward in highlighting and clearly communicating the missteps that led the company and its share price to where it is today. While the company's top line certainly wasn't helped by the unexpectedly dramatic decline in the PC market during FY2013, and the bottom line was damaged by both aforementioned PC decline as well as a bevy of restructuring charges, the problem is that Logitech was not prepared for this turn of events.
(click to enlarge)http://static.cdn-seekingalpha.com/uploads/2013/7/16/1095245-13739584717365808-Ashraf-Eassa_origin.png
While these missteps have been deleterious to the fortunes of current, long-term shareholders, I believe that as the company addresses the key issues here, sentiment should improve (yielding a richer forward multiple) and EBITDA should head in the correct direction.
Explaining The Strategy
Management, unsurprisingly, expects that PC unit sales will continue their decline at a 5-10% per annum clip. While I - and management - believe that this may be overly conservative, it certainly doesn't hurt to play it safe, particularly in this continued weak demand environment for PCs. So, it is important to understand how Logitech views each of its businesses and what sort of strategy it plans to pursue with each, as shown in the following slide from its investor day presentation:
(click to enlarge)http://static.cdn-seekingalpha.com/uploads/2013/7/16/1095245-13739778609491174-Ashraf-Eassa_origin.png
As you can clearly see, the "non-growth" areas that are highly levered to the PC such as pointing devices, desktop keyboards, and video conferencing will be optimized for profit maximization as these are either negative or very slow growth businesses, characterized by the following projected CAGRs,
LifeSize (video conferencing): +6%
Audio PC (PC speakers): -7%
PC Keyboards/Desktops: +3%
OEM: -10%
Pointing devices: -5%
Video (think webcams): -10%
In the "growth" category, we see the more "sexy" product lines, characterized by the following (much more attractive) projected CAGRs,
PC gaming (note that while the traditional PC has been faltering, high-end PC gaming has actually been growing): +20%
Audio - Wearables & Wireless: +31%
Tablet Accessories: +45%
The PC Gaming Story: Stagnation And Share Loss Can Be Reversed
It is interesting that despite the apparent secular decline in the PC space, the PC gaming space has continued to do quite well on all fronts. Nvidia (NVDA), for example, continues to buck the trend of slowing PC sales as it continues to print money with its high end, gaming oriented GPU. Intel (INTC), too, is beginning to realize that significantly improving the graphics performance on its integrated processors is of paramount importance from a user experience standpoint. As such, the broad market for PC gaming peripherals remains strong.
While Logitech actually has significant market segment share in the PC gaming peripherals space, said share has exhibited an unhealthy trend,
(click to enlarge)http://static.cdn-seekingalpha.com/uploads/2013/7/16/1095245-13739794726286979-Ashraf-Eassa_origin.png
Now, in another bit of brutal honesty, the company made it clear that this share loss was a result of a weak product lineup with gaps in the lineup. Logitech also believes that its relatively weak customer engagement efforts carry some of the blame. Despite this, the company still retains #1 or #2 market share position in a number of key markets (Germany, USA, China, Sweden, Japan, and Australia).
This is where the opportunity comes in: when you have a well-known and well-liked brand that has made such an "obvious" set of oversights and is actively working to remedy these problems, there is real room for upside. Consider that the PC gaming peripherals market has been growing at a 28% CAGR over the last several years:
(click to enlarge)http://static.cdn-seekingalpha.com/uploads/2013/7/16/1095245-13739802759826572-Ashraf-Eassa_origin.png
This means that this growth segment is supported by two tailwinds: a stronger competitive positioning from a market leader that has been in a slump paired with a growing demand environment.
The Tablet Growth Story: I Believe Management Is Being Conservative
A major bright spot for Logitech has been the growth story in tablet accessories. According to the company, the iPad accessories market is worth $1.4B alone, and the Android accessories market is worth an incremental $513M. In this space, Logitech currently focuses on tablet keyboards ($350M/yr TAM) and cases ($1.4B/yr TAM). This plays right into Logitech's strength as a leading PC keyboard vendor, and it comes as no surprise that the company has the best-selling iPad keyboard.
However, this isn't enough, as the company recognizes the need for more rapid product development cycles. In the traditional PC accessories space, the typical product development cycle is 12 months and the typical product life cycle is 24-36 months. In the faster-paced tablet market, the product development cycle needs to be on the order of 3-6 months and the products can be expected to last for 6-12 months. One of the major keys to success is simply having a product on the shelves in tandem with the major device introduction.
Speaking of the shelves, the final major point in the company's strategy is to expand its retail presence. The company aims to focus on the leading retailers in 13 countries and achieve placement (and shelf-space share) at roughly 5,000 retail storefronts and online sites.
Now, there are a few additional tailwinds that I see for Logitech in this space going forward. The first is that the company has economies of scale against its numerous smaller competitors, which suggests that while gross margins in this space will not be particularly fat, Logitech could have a non-trivial advantage over its competition, which could allow it to successfully compete on price if the premium brand/aesthetics story is not as strong as hoped. Next, I expect that as Windows 8 tablets and convertibles gain momentum, there will be significant room for Logitech to leverage its traditional Windows PC heritage and name to play in this space, opening up another revenue stream on top of the iOS and Android opportunities.
The Ultimate Ears Opportunity
The final major growth opportunity, in audio wearables and wireless, is an interesting one. Logitech doesn't market products in this space under its own name, and instead chooses to sell products under the Ultimate Ears brand, as this space appears to require an "authentic" music brand. Essentially, this division sells two lines of products: wireless speakers, and premium earphones. According to the company, the wireless speaker segment is projected to grow at a 63% CAGR through FY2016.
I believe that the company is well positioned to take advantage of the wireless speaker opportunity. Mere participation in this market almost guarantees that the company will ride the secular growth wave, but if Logitech can actually bring to bear a legitimate competitive advantage (which the firm claims it has), then - similarly to the PC gaming opportunity - this lends itself to a market share gain in a secular growth environment story.
The earphone market doesn't exhibit the robust growth opportunity that the wireless speaker opportunity presents, but Logitech will be primarily targeting the higher end premium earphone segment, where the company can differentiate and command higher ASPs/margins than in the more commodity mainstream portions of the market.
Tying It All Together
Logitech certainly had a rough FY2013 and FY2014 will represent a "reset" as the declines in the firm's core PC business do not yet begin to be fully offset by the new growth opportunities. As a result, particularly as this is a name in "turnaround mode," the name is likely to look somewhat expensive in the near term. The company has set FY2014 full year operating income guidance at $50M, which suggests an EV/operating income multiple of 14x - not particularly cheap. However, the company has set a particularly firm FY2016E target of $150M of operating income.
While there is certainly risk inherent to basing a valuation on estimates that go rather far out, I believe that given that this estimate bakes in a pessimistic 5-10% unit decline in the PC space through FY2016E and seems to be based on conservative estimates for the end market growth in its growth businesses, the company is likely to hit these estimates. Should it do so, I believe that the shares would look quite cheap at a 4.91x FY2016E EV/operating income multiple. Further, this projection is not baking in any outrageous top-line growth estimates; indeed, the FY2016 projection assumes revenues of $2.25B, which would represent a modest 12% growth over FY2014. There is an operational efficiency story that, following the recent restructuring, is likely to play out here.
Assuming that by FY2016E sentiment has improved (but has not gotten wildly unrealistic), leading to an EV/operating income multiple of between 10-12x (shares have historically traded at 7-17x EV/EBITDA), it does not seem too aggressive to expect shares to trade between $9.40 - $11.30/share, suggesting 40% - 67% upside from here by the end of FY2016. I further believe that in these types of cases, expectations could lead results, so achieving an expansion in the multiple on FY2016E expectations could be achieved as soon as it has become clear that the turnaround is tracking to plan. Interestingly, at Logitech's recent investor day, the following interesting slide was shown regarding the FY2016 (click to enlarge)http://static.cdn-seekingalpha.com/uploads/2013/7/16/1095245-13739947499384568-Ashraf-Eassa_origin.png
So, while investors wait for the "endgame" where operating margin nearly triples and revenues see a modest bounce, FY2015 (we are in the first quarter of FY2014) should still see operating margin nearly double on a very modest expected improvement in sales. Even at our modest 10x - 12x EV/operating income target, and even if the Street would rather not look farther out to FY2016E, we could still see conservative upside to $7.70/share - $8.80/share (15% - 30% upside) depending on how well the firm is executing towards specific market share/growth targets, and how much confidence management exudes at the quarterly calls throughout the year. Of course, given management's conservative estimates about PC unit declines throughout the next several years, there is room for upside in the actual results should the decline show signs of slowing down, or if the upcoming new product refresh mentioned on the most recent call for this space can drive a peripheral refresh independently of new PC sales.
It is useful to use Logitech's historical multiples in this case, as very few of Logitech's competitors are publicly traded, and those that are usually compete against only one segment of Logitech's business (for instance, ZAGG (ZAGG), which trades at ~4x EV/EBITDA, but competes primarily in iPad/Android keyboards)
I recently jumped in... Think management has the right strategy and things seem to be moving in the right direction on the product front. Unlike MSFT which was late to the mobile party too, Logitech's mobile products seem to be selling and quite popular.
In my opinion it's not a question if there will be a breakout, but when...
In the meantime i'm happy they're initiating dividends.
Though after I bought LOGI it performed very well, the stock has not been acting well since last week's market bashing. It's not recovering with the market as a whole. I don't really know what to make of it unless there are already disappointing "earnings whispers". It also may be just because it's lightly traded and no one is looking to scoop it up, because there are so many bargain stock/price options available.
All I can do is hope for news that they are having some success executing on their new plan. I will be interested to read the transcript from their webcast.
Logitech to Announce First Quarter Fiscal 2014 Results
by Business Wirevia The Motley Fool Jun 25th 2013 10:20PM
Updated Jun 25th 2013 10:22PMLogitech to Announce First Quarter Fiscal 2014 Results
NEWARK, Calif. & MORGES, Switzerland--(BUSINESS WIRE)-- Logitech International (SIX: LOGN) (NAS: LOGI) today announced that it will release quarterly financial results on Wednesday, July 24, 2013 at 10:00 p.m. Eastern Daylight Time and Thursday, July 25, 2013 at 04:00 Central European Summer Time.
There will be a teleconference to discuss these results on Thursday, July 25, 2013 at 8:30 a.m. Eastern Daylight Time and 14:30 Central European Summer Time. A live webcast of the call will be available on the Logitech corporate website at http://ir.logitech.com.
This is going to be a huge missed opportunity by investors and institutions.
They gave up on a company with $2 billion in sales based on the company's old model.
The turn around is well underway. New management has reinvigorated the company.
It hit bottom before the last announcements and new products starting to appear in stores and in classrooms.
As the new products have been seen, the evidence is in. The turnaround is underway.
Institutions are going to get back in to LOGI soon, if they haven't already started. There have been several big volume days.
I've been buying for a while and looking forward to seeing mid teens within 12 months.
Logitech Initiates Dividend - The turn around is under way.
6:10p ET May 24, 2013 (Zacks.com)
Logitech International SA (LOGI) recently announced that its board of directors has decided to initiate a recurring regular dividend, to be issued and paid on an annual basis. However, this is subject to final approval of the company’s shareholders at the Annual General Meeting to be held in Sep 2013, keeping in mind the relevant Swiss statutory requirements.
In this connection, the first payout has been fixed at CHF 0.21 (approximately 22 cents at the exchange rate as on May 22, 2013) per share. Annualized payout of the new recurring dividend affirms a yield of 3.3% with a stock price of $6.54 as of closing on May 22, 2013.
The company’s earlier dividend was a one-time special payment made in Sep 2012 totaling $0.847639 per share. In fiscal 2012 the company performed poorly with Operating income of $72 million, down 50 percent from $143 million a year ago and this lead to a sharp fall in the share prices. To combat this, the management decided to reward the shareholders with this one-time distribution utilizing the company’s strong cash position.
This time Logitech has been reaping the benefits of its recent performance growth. Concurrent with the announcement, Logitech also revealed its financial outlook for fiscal 2015 and 2016. With the current revised cost structure and new product line, the company expects to experience growth in coming years. In fiscal 2015, the company estimates sales of $2.1 billion, operating income of $90 million and gross margin of 34.5%. However, in fiscal 2016, performance is expected to be even better with sales of $2.25 billion, operating income of $150 million and gross margin of approximately 35 percent.
Logitech currently has a Zacks Rank #3 (Hold). Other sector participants are performing better, with Electronics for Imaging, Inc. (EFII) and Synaptics Inc. (SYNA) carrying a Zacks Rank #1 (Strong Buy), and eMagin Corp. (EMAN) having a Zacks Rank #2 (Buy)
woha.. this one is cheap now..... wow wowo wowowo:)
Logitech International Earnings Conference Call (Q1 2007)
Scheduled to start Thu, Jul 20, 2006, 8:00 am Eastern
http://biz.yahoo.com/cc/6/69966.html
Press Release Source: Logitech International
http://biz.yahoo.com/bw/060705/20060705005905.html?.v=1
Logitech Sets First Quarter Fiscal 2007 Earnings Announcement
Wednesday July 5, 10:00 pm ET
FREMONT, Calif. & ROMANEL-SUR-MORGES, Switzerland--(BUSINESS WIRE)--July 5, 2006--Logitech International (NASDAQ:LOGI - News; SWX:LOGN - News) announced that it will release quarterly financial results on Wednesday, July 19, 2006 at 10:00 p.m. Eastern Time/Thursday, July 20, 2006 at 04:00 Central European Time.
ADVERTISEMENT
There will be a teleconference to discuss these results on July 20, 2006 at 8:00 a.m. Eastern Time/14:00 Central European Time. A live webcast of the call, along with presentation slides, will be accessible at www.logitech.com/investors.
About Logitech
Founded in 1981, Logitech designs, manufactures and markets personal peripherals that enable people to effectively work, play, and communicate in the digital world. Logitech International is a Swiss public company traded on the SWX Swiss Exchange (LOGN) and in the U.S. on the Nasdaq Global Select Market (LOGI).
Logitech, the Logitech logo and other Logitech marks are owned by Logitech and may be registered. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the Company's Web site at www.logitech.com.
(LOGI - IR)
Contact:
Logitech International
Joe Greenhalgh, 510-713-4430
(Vice President, Investor Relations - USA)
Nancy Morrison, 510-713-4948
(Director, Corporate Communications - USA)
Ben Starkie, +41 (0) 21 863 51 95
(Public Relations Manager - Europe)
Source: Logitech International
Wed, May31, 2006, 9:05AM ET- Logitech Financials - http://finance.yahoo.com/q/is?s=logi&annual
Monday May 29, 10:00 pm ET - Logitech CFO Mark Hawkins to Present at Credit Suisse EuroTech Conference
http://biz.yahoo.com/bw/060529/20060529005076.html?.v=1
WED MAY 24, 2006 - Logitech Intl SA upgraded by UBS-
http://finance.yahoo.com/q/ud?s=LOGI
May 10, 2006- Logitech Proposes Two-for-One Stock Split, Board Approves New Share Buyback Program - http://ir.logitech.com/releasedetail.cfm?ReleaseID=196004
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