LAUSANNE, Switzerland & SAN JOSE, Calif.--(BUSINESS WIRE)--Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that Company leaders plan to participate at the following investor conference: 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference in Boston on Tuesday, May 21, 2024, 9:30 a.m. EDT A link to the webcast will be available on the Logitech corporate website at http://ir.logitech.com. Webcast replays will be archived and will remain available for one year. About ...

LAUSANNE, Switzerland & SAN JOSE, Calif.--(BUSINESS WIRE)--Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that Company leaders plan to participate at the following investor conference:52nd Annual J.P. Morgan Global Technology, Media and Communications Conference in Boston on Tuesday, May 21, 2024, 9:30 a.m. EDTA link to the webcast will be available on the Logitech corporate website at http://ir.logitech.com. Webcast replays will be archived and will remain available for one year.About Lo ...

Key PointsLogitech reported a Q1 2024 EPS beat by 34 cents and a revenue beat by $53 million.Its video gaming segment saw revenues rise 7% YoY to $273.5 million in Q1.The elastic office trend is a growth driver for the company’s webcam and collaboration business.5 stocks we like better than Logitech InternationalComputer gaming and accessories manufacturer Logitech International S.A. NASDAQ: LOGI saw strength in its video gaming segment in Q1 2024. The computer and technology sector company has narrowed its ...

Logitech International S.A. (LOGI) ended fiscal 2024 on a strong note by reporting better-than-expected results in the fourth quarter. The computer peripheral and software maker’s fiscal fourth-quarter non-GAAP earnings of 99 cents per share beat the Zacks Consensus Estimate of 63 cents per share and registered a year-over-year increase of 98%. The company’s fourth-quarter bottom-line results mainly benefited from increased revenues, and lower product and logistics costs.Logitech’s fiscal fourth-quarter rev ...

Logitech (LOGI), a maker of peripherals for personal computers and mobile devices, late Monday beat expectations for its fiscal fourth quarter. But it guided below views for sales in the current fiscal year. Logitech stock could use some good news as it is down 16% year to date.X The gadget maker earned an adjusted 99 cents a share on sales of $1.01 billion in the quarter ended March 31. Analysts polled by FactSet had expected earnings of 67 cents a share on sales of $960 million. On a year-over-year basis, ...

Exhibit 99.1 Editorial Contacts: Nate Melihercik, Head of Global Investor Relations - ir@logitech.com Nicole Kenyon, Head of Global Corporate and Internal Communications - nkenyon@logitech.com (USA) Ben Starkie, Corporate Communications - +41 (0) 79-292-3499, bstarkie1@logitech.com (Europe) Logitech Announces Q4 and Full Fiscal Year 2024 Results Logitech Returns To Growth With Strong Fourth Quarter; Company Announces FY 2025 Outlook For Q4 Fiscal Year 2024: For Fiscal Year 2024: • Sales were $1.01 billion, ...

Logitech International (LOGI) is slated to report fourth-quarter fiscal 2024 results on Apr 29.The Zacks Consensus Estimate for fourth-quarter fiscal 2024 revenues is pegged at $951.9 million, which indicates a marginal decrease of 0.9% from the year-ago quarter. The consensus mark for non-GAAP earnings stands at 61 cents per share, which suggests a robust increase of 22% from the year-ago quarter’s earnings of 50 cents. Earnings estimates for the fourth quarter have remained unchanged in the past 60 days.T ...

Wall Street analysts forecast that Logitech (LOGI) will report quarterly earnings of $0.61 per share in its upcoming release, pointing to a year-over-year increase of 22%. It is anticipated that revenues will amount to $951.94 million, exhibiting a decline of 0.9% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 1.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed the ...

Morgan Stanley says the computer peripherals maker is a sell -- but Morgan Stanley is wrong.Logitech International (LOGI -6.50%) stock was trading down by 6% as of 12:20 p.m. ET Monday after investment bank Morgan Stanley downgraded the computer peripherals maker to underweight (i.e., sell) and predicted the stock would fall to $75 over the next 12 months.That's now the lowest price target assigned to Logitech by any bank on Wall Street, according to StreetInsider.com. What Morgan Stanley said about Logitec ...

Sales Performance - Total sales for the three and nine months ended December 31, 2023 decreased by 1% and 8%, respectively, compared to the same periods in 2022, driven by lower demand across most product categories [121]. - Sales in the Americas region increased by 5% for the three months ended December 31, 2023, while sales in the Asia Pacific and EMEA regions decreased by 8% and 3%, respectively [122]. - Total sales for the three months ended December 31, 2023, decreased by 1% to $1,255,473,000 compared to $1,269,925,000 for the same period in 2022; for the nine months, sales decreased by 8% to $3,286,980,000 from $3,578,741,000 [159]. - Sales in the Americas region increased by 5% for the three months ended December 31, 2023, but decreased by 4% for the nine months; the growth was driven by Keyboards & Combos, Video Collaboration, and Webcams [140]. - EMEA region sales decreased by 3% for the three months and 3% for the nine months, primarily due to declines in Webcams and Video Collaboration, partially offset by increases in Gaming and Pointing Devices [141]. - Asia Pacific region sales decreased by 8% for the three months and 19% for the nine months, driven by declines in Gaming and Video Collaboration [142]. - Sales of Gaming products decreased by 1% for the three months and 7% for the nine months, primarily due to lower sales of gaming keyboards and mice [147]. - Sales of Keyboards & Combos increased by 4% for the three months but decreased by 7% for the nine months, driven by a decrease in cordless keyboards [149]. Financial Performance - Gross margin improved to 42.0% and 40.8% for the three and nine months ended December 31, 2023, an increase of 440 and 240 basis points, respectively, primarily due to lower material and logistics costs [123]. - Net income for the three and nine months ended December 31, 2023 was $244.7 million and $444.5 million, respectively, compared to $140.2 million and $323.1 million for the same periods in 2022 [126]. - Gross profit for the three months ended December 31, 2023, increased by 10% to $526,780,000, while gross margin improved to 42.0%, up from 37.6% in the same period of 2022; for the nine months, gross profit decreased by 3% to $1,341,044,000 [159][160]. - Operating expenses for the three months ended December 31, 2023 were $304.7 million, or 24.3% of sales, compared to $300.5 million, or 23.7% of sales, for the same period in 2022 [124]. - Total operating expenses for the three months ended December 31, 2023, increased to $304,705,000, up from $300,523,000 in the same period of 2022; for the nine months, expenses decreased to $883,925,000 from $956,026,000 [161]. - Research and development expenses increased to 5.8% and 6.4% of sales for the three and nine months ended December 31, 2023, respectively, reflecting continued investment in innovation [166]. - General and administrative expenses increased by $9.9 million and $24.3 million for the three and nine months ended December 31, 2023, respectively, primarily due to higher performance-based compensation [168]. - Interest income for the three months ended December 31, 2023, increased by $8.2 million to $12.8 million compared to $4.7 million in 2022, and for the nine months, it increased by $24.9 million to $34.5 million compared to $9.6 million in 2022, primarily due to rising interest rates [173]. - The provision for income taxes for the three months ended December 31, 2023, was a benefit of $9.6 million, compared to a provision of $42.7 million in 2022, resulting in an effective tax rate of -4.1% versus 23.3% in 2022 [178]. Cash Flow and Working Capital - As of December 31, 2023, cash and cash equivalents totaled $1,412.7 million, up from $1,149.0 million as of March 31, 2023 [182]. - Working capital as of December 31, 2023, was $1,495.0 million, down from $1,555.1 million as of March 31, 2023, driven by reduced inventories and increased accounts payable [183]. - Net cash provided by operating activities for the nine months ended December 31, 2023, was $906.0 million, significantly higher than $317.2 million in 2022 [191]. - Net cash used in investing activities for the nine months ended December 31, 2023, was $59.8 million, primarily for property, plant, and equipment purchases totaling $45.6 million [193]. Shareholder Returns and Commitments - In fiscal year 2024, the company paid a cash dividend of CHF 169.1 million ($182.3 million), an increase from CHF 156.1 million ($158.7 million) in fiscal year 2023 [196]. - The company repurchased 16.7 million shares for an aggregate cost of $1.2 billion under the 2020 share repurchase program, with 2.6 million shares repurchased for $159.1 million in fiscal year 2024 [197]. - A new three-year share repurchase program was approved in June 2023, allowing up to $1.0 billion for share repurchases, with $767.8 million available as of December 31, 2023 [198]. - As of December 31, 2023, the company had non-cancelable purchase commitments of $344.0 million for inventory purchases, with a liability of $33.8 million recorded [204]. - The company has firm purchase commitments of $14.0 million for capital expenditures related to tooling and equipment for new and existing products [205]. Currency Impact - Approximately 52% of sales during the three months ended December 31, 2023, were denominated in currencies other than the U.S. Dollar [138]. - If currency exchange rates had been constant, the constant dollar sales reduction rates would have been 3% and 9% for the three and nine months ended December 31, 2023, respectively [137]. - An adverse 10% foreign currency exchange rate change would have resulted in an adverse effect on income before income taxes of approximately $16.4 million as of December 31, 2023 [215]. - If the U.S. dollar had weakened by 10%, the amount recorded in accumulated other comprehensive income related to foreign exchange contracts would have been approximately $9.1 million lower as of December 31, 2023 [217]. Future Outlook - The company expects challenges from the current macroeconomic environment, including inflation and low consumer confidence, to continue in the near term [116]. - The rapid evolution of generative artificial intelligence presents both growth opportunities and risks for the company as it integrates AI capabilities into its products [119]. - The company has taken steps to mitigate challenges, including reducing operating expenses and aligning inventory with demand [117]. - The company anticipates future working capital requirements may increase to support investments in product innovations and growth opportunities [195]. Efficiency Metrics - Days sales outstanding (DSO) decreased to 49 days for the three months ended December 31, 2023, from 57 days in 2022, indicating improved collection efficiency [186]. - Days payable outstanding (DPO) increased to 65 days for the three months ended December 31, 2023, from 56 days in 2022, reflecting softened demand and higher inventory purchases [188]. - Inventory turnover (ITO) improved to 6.5 times for the three months ended December 31, 2023, compared to 4.0 times in 2022, due to effective inventory management [189].