Logitech International (LOGI) FY2014 results: revenue $2.0 billion, down 4.4% on the year
Logitech International S.A. (LOGI) reported revenue of $2.0 billion for fiscal 2014, the year ended 31 March 2014, down 4.4% on the year before. Net income was $74 million, and diluted earnings per share $0.46. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2014.
Revenue
$2.0 billion
-4.4% on the year
FY2009FY2014
Operating margin
5.3%
-12.0% a year earlier
FY2009FY2014
Net income
$74 million
FY2009FY2014
Diluted EPS
$0.46
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,008
2,100
2,316
-4.4%
Cost of revenue
1,346
1,390
1,509
-3.1%
Gross profit
662
710
808
-6.8%
Gross margin
32.9%
33.8%
34.9%
Research and development
112
155
162
-27.5%
Operating income
106
-252
114
Operating margin
5.3%
-12.0%
4.9%
Interest expense
2.2
1.3
0.4
+70.3%
Pre-tax income
107
-254
124
Income tax
1.3
-25.8
20.1
Effective tax rate
1.2%
n/a
16.2%
Net income
74.3
-228
104
Net margin
3.7%
-10.8%
4.5%
Diluted EPS
$0.46
-$1.44
$0.59
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
205
n/a
n/a
Capital expenditure
46.7
54.5
54.2
-14.4%
Free cash flow
159
n/a
n/a
Free cash flow margin
7.9%
n/a
n/a
Cash from investing
-46.8
n/a
n/a
Cash from financing
-22.7
n/a
n/a
Depreciation and amortisation
66.7
67.9
73.2
-1.8%
Share-based compensation
25.5
25.2
31.5
+1.4%
Buybacks
0.0
87.8
156
Dividends paid
36.1
133
n/a
-72.9%
Dividend per share
$0.22
$0.85
n/a
-74.1%
Diluted shares, weighted
163m
158m
176m
+2.6%
Shares outstanding at period end
173m
173m
192m
+0.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
804
722
1,132
+11.4%
Debt
0.0
0.0
n/a
Other liabilities
647
660
717
-2.0%
Total liabilities and equity
1,451
1,382
1,849
+5.0%
Fixed assets
88.4
93.7
94.9
-5.7%
Goodwill
219
341
561
-35.7%
Intangible assets
10.5
26.0
52.0
-59.5%
Trading assets
16.6
15.6
n/a
+6.5%
Cash and equivalents
469
334
478
+40.6%
Receivables
182
179
223
+1.7%
Inventory
222
263
297
-15.3%
Other assets
243
130
143
+86.3%
Total assets
1,451
1,382
1,849
+5.0%
10-K for the year ended 31 March 2014, filed 13 November 2014: the filing.