{"id":10987,"date":"2012-04-26T11:34:02","date_gmt":"2012-04-26T09:34:02","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=10987"},"modified":"2012-04-26T14:31:07","modified_gmt":"2012-04-26T12:31:07","slug":"logitech-beats-forecast","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/hardware\/10987\/logitech-beats-forecast\/","title":{"rendered":"Logitech beats forecast"},"content":{"rendered":"<p><a title=\"Logitech\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2361-Logitech\">Logitech<\/a>, the world&#8217;s largest computer mouse maker, posted a nine-fold jump in fourth-quarter profit, beating analysts&#8217; expectations, and outlined plans to further streamline its business.<\/p>\n<p>The Switzerland-based company, which also makes speakers, webcams and keyboards, is cutting costs to boost profitability amid a soft euro and weak economic environment.<\/p>\n<p>Logitech said it removed a layer of business and sales management and plans to streamline most other functions by the end of the current quarter.<\/p>\n<p>The company expects to cut about $80 million in annual operating costs through the restructuring.<\/p>\n<p>Net income rose to $28 million in the fourth quarter, or 17 cents per share, from $3 million, or 2 cents per share, a year earlier, the company said.<\/p>\n<p>That beat an average forecast of $12.2 million in a Reuters poll.<\/p>\n<p>Sales fell 3 percent from a year earlier to $532 million.<\/p>\n<p>Logitech said the launch of new products, the majority of which are expected in the second quarter, to drive growth in the second half of fiscal 2013.<\/p>\n<p>Logitech&#8217;s most recent forecast was for full-year sales of some $2.3 billion and operating income of around $60 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Logitech, the world&#8217;s largest computer mouse maker, posted a nine-fold jump in fourth-quarter profit, beating analysts&#8217; expectations, and outlined plans to further streamline its business.<\/p>\n","protected":false},"author":7,"featured_media":5021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[25,1189,229],"class_list":["post-10987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hardware","tag-active","tag-logitech","tag-results"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=10987"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10987\/revisions"}],"predecessor-version":[{"id":10989,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/10987\/revisions\/10989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5021"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=10987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=10987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=10987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}