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Logitech International 4Q Net $2.8 Million Vs $24.5 Million

By John Revill Of DOW JONES NEWSWIRES ZURICH -(Dow Jones)- Computer technology maker Logitech International S.A. (LOGN.VX) Thursday said fourth quarter profit fell 89% on year, resulting in a weak end to what the company described as an otherwise 'strong' year, but it expects its performance to improve in the current fiscal year. "The disappointing conclusion to FY 2011--which resulted in lower-than expected full-year sales, operating income and gross margin--was due to weaker than anticipated demand in the second half of Q4 for our products in Europe, Middle East and Africa. The weakness in demand in EMEA was compounded by poor execution of channel pricing and promotional programs within the region, which we have begun to remedy," said Chief Executive Gerald Quindlen in a statement. Net profit fell to $2.8 million in the period from $24.5 million a year earlier, worse than expectations of $5.9 million. Sales at the Swiss company, which makes computer mice, television remote controls and keyboards, were $548 million, up 4% from $525.4 million and slightly better than the $545.5 million forecast by analysts in a Dow Jones Newswires Poll. In its statement, Logitech, which also makes a set-top box for Google Inc's (GOOG) Google TV, said it expects sales of approximately $2.6 billion in the 2012 fiscal year, operating income of approximately $185 million and a gross margin of approximately 35%. For the full 2011 fiscal year, sales were $2.36 billion, up 20% from $1.97 billion. Operating income was $142.7 million, up 82% from $78.4 million the previous year. Gross margin was 35.4% compared to 31.9%. -By John Revill, Dow Jones Newswires; +41 43 443 8042 ; john.revill@dowjones.com

Stock News for Logitech International S.a. - Registered (LOGI)
DateTimeHeadline
08/03/201517:24:04Statement of Changes in Beneficial Ownership (4)
07/24/201517:00:00Logitech Files Quarterly Report on Form 10-Q
07/24/201516:51:24Proxy Statement (definitive) (def 14a)
07/24/201516:27:55Amended Current Report Filing (8-k/a)
07/24/201516:25:22Quarterly Report (10-q)
07/23/201506:02:09Current Report Filing (8-k)
07/22/201521:00:00Logitech Confirms FY 2016 Outlook with Q1 Sales of $470 Million
07/21/201508:00:00Lifesize Introduces Cloud-Based Recording, Launches Industry’s F...
07/21/201508:00:00Lifesize lance l'enregistrement basé dans le cloud, et la toute...
07/21/201508:00:00Lifesize lanciert cloudbasierte Aufnahmelösung und branchenerste...
07/20/201504:00:00New Logitech Partner Program Designed to Deliver a Seamless Collaboration...
07/15/201504:00:00Logi BLOK: the Family of Cases Made to be Dropped
07/14/201517:12:10Proxy Statement - Notice of Shareholders Meeting (preliminary...
07/14/201509:00:00Lifesize Receives Frost & Sullivan Global Video-as-a-Service...
07/09/201517:00:00Logitech Announces Date for Release of First Quarter Fiscal 2016...
07/08/201504:00:00Meet the New Logitech
06/25/201517:16:40Current Report Filing (8-k)
06/25/201517:00:00Logitech Announces Sue Gove, Lung Yeh and Edouard Bugnion as...
06/25/201509:00:00Lifesize Extreme Support Team and Executive Receive Gold Stevie...
06/16/201504:00:00Ultimate Ears Introduces New Mobile Speaker Designed for Whatever...

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