Logitech International (LOGI) FY2013 results: revenue $2.1 billion, down 9.3% on the year
Logitech International S.A. (LOGI) reported revenue of $2.1 billion for fiscal 2013, the year ended 31 March 2013, down 9.3% on the year before. Net income was -$228 million, and diluted earnings per share $-1.44. The figures are the company's own, from the 10-K it filed with the SEC on 30 May 2013.
Revenue
$2.1 billion
-9.3% on the year
FY2009FY2013
Operating margin
-12.0%
4.9% a year earlier
FY2009FY2013
Net income
-$228 million
FY2009FY2013
Diluted EPS
-$1.44
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,100
2,316
2,363
-9.3%
Cost of revenue
1,390
1,509
1,526
-7.9%
Gross profit
710
808
839
-12.1%
Gross margin
33.8%
34.9%
35.5%
Research and development
155
162
157
-4.5%
Operating income
-252
114
146
Operating margin
-12.0%
4.9%
6.2%
Interest expense
1.3
0.4
0.0
+192.6%
Pre-tax income
-254
124
151
Income tax
-25.8
20.1
20.0
Effective tax rate
n/a
16.2%
13.2%
Net income
-228
104
128
Net margin
-10.8%
4.5%
5.4%
Diluted EPS
-$1.44
$0.59
$0.72
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
n/a
n/a
157
Capital expenditure
54.5
54.2
43.0
+0.5%
Free cash flow
n/a
n/a
114
Free cash flow margin
n/a
n/a
4.8%
Cash from investing
n/a
n/a
-39.9
Cash from financing
n/a
n/a
46.4
Depreciation and amortisation
67.9
73.2
76.7
-7.1%
Share-based compensation
25.2
31.5
34.8
-20.1%
Buybacks
87.8
156
n/a
-43.7%
Dividends paid
133
n/a
n/a
Dividend per share
$0.85
n/a
n/a
Diluted shares, weighted
158m
176m
179m
-9.8%
Shares outstanding at period end
173m
192m
n/a
-9.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
722
1,132
1,158
-36.2%
Debt
0.0
n/a
n/a
Other liabilities
660
717
704
-7.9%
Total liabilities and equity
1,382
1,849
1,862
-25.2%
Fixed assets
93.7
94.9
84.2
-1.2%
Goodwill
341
561
547
-39.1%
Intangible assets
26.0
52.0
74.6
-49.9%
Trading assets
15.6
n/a
13.1
Cash and equivalents
334
478
478
-30.2%
Receivables
179
223
258
-19.8%
Inventory
263
297
281
-11.6%
Other assets
130
143
125
-9.1%
Total assets
1,382
1,849
1,862
-25.2%
10-K for the year ended 31 March 2013, filed 30 May 2013: the filing.