Logitech Q4 Beats Estimates
Logitech, the world’s largest computer mouse maker, posted a nine-fold jump in fourth-quarter profit, beating analysts’ expectations, and outlined plans to further streamline its business.
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.
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.
The company expects to cut about $80 million in annual operating costs through the restructuring.