Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens Wu Yanzu in South China for the delivery of clues! CTOnews.com May 2 News, PC Peripheral products company Logitech today announced its financial results for the fourth quarter ended March 31, 2023 and for the entire fiscal year 2023.

Logitech's sales in fiscal year 2023 were $4.54 billion (CTOnews.com Note: currently about 31.462 billion yuan), down 17% in dollar terms and 13% at fixed exchange rates.

GAAP's operating revenue was $458 million (currently about 3.174 billion yuan), down 41 per cent from the previous year. Non-GAAP operating revenue was $589 million (currently about 4.082 billion yuan), down 35 per cent from the previous year.

GAAP earnings per share (EPS) was $2.23 (currently about 15 yuan), down 41 per cent from the previous year. Non-GAAP earnings per share were $3.22 (currently about 22 yuan), down 30% from the previous year.

In the fourth quarter alone, Logitech's sales were $960 million (currently about 6.653 billion yuan), down 22% in dollar terms and 20% at a fixed exchange rate. GAAP's revenue was $39 million (currently about 270 million yuan), down 70 per cent from a year earlier. Non-GAAP revenue was $82 million (currently about 568 million yuan), down 47 per cent from a year earlier.

Logitech confirmed its outlook for the first half of fiscal 2024, with sales of $1.8 billion to $1.9 billion, down 22% to 18% from a year earlier, and non-GAAP revenue of $160 million to $190 million.

Logitech announced in March that it would cut about 300 jobs in a global restructuring in the face of an industry downturn and poor performance, according to CTOnews.com.

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