FREMONT, Calif. & MORGES, Switzerland--(BUSINESS WIRE)--
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).
This press release contains forward-looking statements, including the
statements regarding the expected sales and operating income ranges for
FY 2011. The forward-looking statements in this release involve risks
and uncertainties that could cause Logitech's actual results to differ
materially from that anticipated in these forward-looking statements.
Factors that could cause actual results to differ materially include:
the review of the fourth quarter and full fiscal year results and
quarter- and year-end accounting procedures; the sales mix among our
lower- and higher-margin products and our geographic sales mix; as well
as those additional factors set forth in our periodic filings with the
Securities and Exchange Commission, including our Annual Report on Form
10-K for the fiscal year ended March 31, 2010 and our Quarterly Reports
on Form 10-Q for the quarters ended June 30, 2010, September 30, 2010
and December 31, 2010, available at www.sec.gov.
Logitech does not undertake to update any forward-looking statements.
(LOGI — IR)
Logitech International
Joe Greenhalgh, 510-713-4430
Vice
President, Investor Relations — USA
Nancy Morrison, 510-713-4948
Vice
President, Corporate Communications — USA
Laura Scorza, +41-(0)
21-863-5336
Sr. Public Relations Manager — Europe
Source: Logitech International
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