Feeds

Guess who PC-slaying tablets are killing next? Keyboard biz Logitech

Desktop gumble-maker slumps to $228m loss

SANS - Survey on application security programs

The industry shift to slabs didn't just catch out major PC makers: peripherals builder Logitech also found life hard going, judging by the amount of red ink scrawled over its Q4 2012 financial figures.

The mouse, keyboard and speaker tech purveyor reported operating losses of $37m for Q4 (ended 31 March), including $16m in restructuring charges as well as a $6m goodwill impairment. This compared unfavourably to an operating profit of $24m a year ago.

Turnover also headed in the wrong direction, landing at $469m - some 12 per cent off the pace set by last year's sales figures of $532m.

Logitech's president and CEO, Bracken Darrell, said that aside from EMEA retail business was starting to stabilise.

"In Europe, the combination of the difficult macro-economic environment and the very slow PC market stalled our business in Q4," he claimed in a canned statement .

The consumer unit grew its mice and keyboards divisions by six per cent in Asia and the Americas, bucking the downward PC shipments trends in those regions for the period where unit sales fell 14 per cent.

Momentum for tab related accessories was "strong" he added, including the Ultrathin Keyboard Cover for the iPad mini.

The full extent of Logitech's problems are apparent in full year figures that show net losses of $228m, compared to a profit of $71m a year earlier. Sales dropped to $2.1bn from £$2.3bn.

Darrell says the company has "taken appropriate actions to effect a turnaround" which include narrowing the portfolio areas, restructuring the LifeSize video conferencing division, and prioritising tab kit.

"While the PC market continues to weigh heavy upon parts of our business, and the ongoing economic uncertainty in much of Europe shows no signs of improvement our product portfolio and indications of stabilisation in the Americas and Asia, combined with cost savings … position us for improved profitability," said the CEO. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.