Feeds

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

Desktop gumble-maker slumps to $228m loss

Top three mobile application threats

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. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.