Logitech Lowers Full-Year Outlook for FY 11

Post by **Apoptosis** » Mon Apr 04, 2011 7:15 am

FREMONT, Calif. and MORGES, Switzerland, March 31, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it has lowered its full-year outlook for Fiscal Year 2011, ending March 31, 2011. The company now expects FY 2011 sales in the range of $2.35 to $2.37 billion, down from the previous range of $2.4 to $2.42 billion. FY 2011 operating income is now expected to be in the range of $140 to $150 million, down from the previous range of $170 to $180 million.

The projected shortfalls in both sales and profitability are primarily due to weakness in the company’s EMEA retail sales region. Logitech has experienced lower than expected demand for its retail products in EMEA from both distribution partners and consumers.

Earnings Teleconference and Webcast
Logitech plans to announce financial results for Fiscal Year 2011 on April 27, 2011 at 10:00 p.m. Eastern Daylight Time and Thursday, April 28, 2011 at 04:00 Central European Summer Time. The company will hold an earnings teleconference on Thursday, April 28, 2011 at 8:30 a.m. Eastern Daylight Time and 14:30 Central European Summer Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.

About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).