Logitech (NASDAQ:LOGI) reported its latest quarterly earnings results today, bringing in earnings and revenue that were ahead of what analysts called for in their consensus estimate, yet LOGI stock took a step back today.
The Lausanne, Switzerland-based tech company — which makes keyboards, webcams and more computer accessories — said that for its fourth quarter of the last fiscal year, it posted net income of $42.1 million, or 25 cents per share. When adjusted for stock option expenses and non-recurring costs, the company’s earnings tallied up to roughly 38 cents per share.
This amount was stronger than what Wall Street projected in its guidance as three analysts surveyed by Zacks Investment Research called for Logitech to amass adjusted earnings of 30 cents per share. The company added that for the last three months of the year, it raked in revenue of $624.3 million.
This figure was also stronger than the Wall Street guidance as three analysts who were surveyed by Zacks predicted the company would bring in sales of $619.4 million. For the fiscal year, Logitech said it brought in a profit of $257.6 million, which roughly tallied up to $1.52 per share.
Revenue for the fiscal year came in at $2.79 billion for the Swiss tech company.
LOGI stock is down about 7.7% during regular trading hours today despite the company’s strong fourth-quarter performance from its earnings and revenue standpoints. Shares were largely unmoved after the bell Tuesday.
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