Logitech International (LOGI) reported fourth quarter net loss of $36 million or $0.23 per share, compared to net income of $28 million or $0.17 per share in the prior year period.
On average, 4 analysts polled by Thomson Reuters expected the company to report a loss of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter were $469 million, down 12 percent from $532 million in the year-ago quarter. Wall Street expected revenues of $466.50 million for the quarter. Excluding the unfavorable impact of exchange rates, sales were down by 11 percent.
Logitech's retail sales decreased by 10 percent, up 2 percent in Asia, down 2 percent in the Americas and down 25 percent in EMEA.
The company posted an operating loss of $37 million, versus operating income of $24 million in the same quarter a year ago.
For fiscal year 2014, Logitech currently expects sales of approximately $2 billion, operating income of approximately $50 million and gross margin of approximately 34 percent. Analysts estimate the company to report $1.95 billion in sales for fiscal 2014.
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