Logitech International SA - LOGI STOCK NEWS

Logitech International (SIX: LOGN; Nasdaq: LOGI) reported Q1 FY 2023 sales of $1.16 billion, down 12% in USD and 9% in constant currency year-over-year. Notable category sales include a 4% increase in Keyboards & Combos, while Gaming sales dropped 16%. GAAP operating income fell 43% to $115 million, with GAAP EPS declining 44% to $0.61. Logitech revised its FY 2023 sales growth outlook to a decline of 8% to 4%. The board approved an increased share buyback authorization of up to $1.5 billion, following $697 million repurchased to date.

Logitech International has achieved a prestigious Platinum rating from EcoVadis, ranking in the top 1% of sustainability-rated companies. This marks an upgrade from the previous Gold rating, which placed it in the top 5%. The assessment reflects Logitech's commitment to integrating sustainability across its business practices, particularly in Environment and Labor & Human Rights. EcoVadis evaluates companies based on international sustainability standards across four themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement.

Ultimate Ears, a brand of Logitech (SIX: LOGN) (NASDAQ: LOGI), announced the launch of UE DROPS, the first custom wireless earbuds designed to fit each user's unique earprint. Priced at $449, these earbuds provide 22 hours of playtime, including a quick charge feature. Available in three colorways, UE DROPS promise a blend of audiophile-quality sound and unique, stylish design. The customization process utilizes an at-home FitKit for a personalized audio experience, signaling a disruptive approach to the earbuds industry.

Logitech International (SIX: LOGN, Nasdaq: LOGI) will release its first quarter fiscal year 2023 financial results on July 25, 2022. The results will be discussed during a videoconference on July 26, 2022. The event starts at 8:30 a.m. EDT and will be livestreamed on the Logitech corporate website. Logitech is committed to enhancing user experiences across various product categories, reinforcing its dedication to innovation and design.

Logitech International (SIX: LOGN, Nasdaq: LOGI) announced the election of three new board members at its annual general meeting on September 14, 2022. Christopher Jones, Frankie Ng, and Sascha Zahnd will join the board, bringing diverse expertise in product development, global services, and supply chain management. Riet Cadonau and Neil Hunt will not stand for re-election. Logitech also proposed a 10% increase in its annual cash dividend to approximately CHF 0.96 per share, subject to shareholder approval, with payment expected on September 28, 2022.

Logitech has launched two new enterprise mouse-keyboard combos: the MX Keys Mini Combo for Business and the Signature MK650 Combo for Business. These products aim to enhance employee experience and productivity, featuring Logi Bolt wireless security for reliable connectivity, even in congested environments. The Signature MK650 offers ergonomic benefits and productivity shortcuts, while the MX Keys Mini targets advanced workflows with its compact design and performance features. Both combos include sustainable packaging and are set to launch in August 2022.

Logitech has expanded its Master Series with the launch of three new products: the MX Mechanical, MX Mechanical Mini keyboards, and the MX Master 3S mouse. Designed for digital creators, these products feature advanced mechanical typing, enhanced precision tracking, and sustainability through post-consumer recycled materials. Available from May 2022, the suggested prices are $169.99 for MX Mechanical, $149.99 for MX Mechanical Mini, and $99 for MX Master 3S.

Logitech International (SIX: LOGN, Nasdaq: LOGI) filed its Annual Report on Form 10-K for the Fiscal Year 2022, which ended on March 31, 2022, with the U.S. Securities and Exchange Commission. The report is accessible on Logitech's investor relations website. The company plans to publish its annual report to shareholders along with its invitation and proxy statement for the 2022 Annual General Meeting in July 2022.

Logitech focuses on designing products for computing, gaming, video streaming, and music to help people pursue their passions.

Logitech International (Nasdaq: LOGI) announced participation in two upcoming investor conferences. The first is J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference on May 24, 2022, at 3:30 PM EDT. The second is Bernstein’s Annual Strategic Decisions Conference on June 1, 2022, at 4:30 PM EDT. Both presentations will be available via webcast on the company's corporate website. Logitech, headquartered in Lausanne, Switzerland, designs products enhancing creativity and connectivity across various platforms.