Logitech International on Thursday said second quarter revenue of LifeSize, a video conferencing business, decreased 14 percent to $30 million.
The company is in the process of a major restructuring in order to register profit in the fiscal 2014.
The restructuring exercise involved elimination of some resources as well. Logitech reported a restructuring charge of $5 million due to change in headcount in LifeSize business.
Logitech, which reported 3 percent dip in second quarter revenue to $532 million, LifeSize business is stable now with the video conferencing company showing steady revenue in the last two quarters.
On Wednesday, Polycom, major rival of LifeSize, also announced net loss of $24 million on third quarter 2013 revenue of $336 million.
“In spite of headwinds from weak market conditions in Europe and a decline in the global PC market, we significantly improved operating profitability in the first half of Fiscal Year 2014. Our growth categories performed well during the first half. Combined, tablet accessories, gaming and wireless speakers grew about 36 percent year over year,” said Bracken P. Darrell, Logitech president and chief executive officer.
For the full fiscal year 2014, Logitech expects revenue of approximately $2 billion and operating income of approximately $50 million, compared to an operating loss in fiscal year 2013.