Logitech cuts 2012 targets on economic uncertainty

Sep 22, 2011

Swiss computer peripherals maker Logitech on Thursday cut its 2012 full-year targets amid economic uncertainty in industrialised states.

The IT giant said it now expects revenues to reach $2.4 billion (1.8 billion euros) for the fiscal year ending March 31, 2012, down slightly from the $2.5 billion predicted earlier.

meanwhile, is expected to dip to $90 million from at least $143 million in an earlier forecast.

"I am disappointed that our revised fiscal 2012 outlook is not higher, but we now have a thorough understanding of what needs to be fixed," said Guerrino De Luca, chairman.

"Our strategy remains unchanged. I expect the initiatives we have put in place to result in reinvigorated product offerings and improved execution in our sales and marketing organization as we progress through fiscal 2012 and into fiscal 2013," he added.

Explore further: Google hits back at rivals with futuristic HQ plan

add to favorites email to friend print save as pdf

Related Stories

RIM down over 21 percent on Wall Street

Jun 17, 2011

Shares in Research in Motion plunged on Wall Street Friday after the BlackBerry maker lowered its outlook for the year and said it would be cutting jobs.

BlackBerry maker slashes short-term sales forecast

Apr 28, 2011

(AP) -- Research In Motion Ltd., the maker of the BlackBerry, on Thursday cut its sales and earnings forecasts for the current quarter, saying it's shipping fewer and cheaper phones than it had expected.

Sharp annual profit more than quadruples

Apr 27, 2011

(AP) -- Sharp said its annual profit more than quadrupled due to brisk demand for liquid crystal display screens but warned the earthquake and tsunami that hit Japan last month will have a "broad" impact on its business.

Recommended for you

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

Judge orders suspension of WhatsApp in Brazil

Feb 26, 2015

(AP)—A judge says he has ordered the suspension of the globally popular instant messaging system WhatsApp across Brazil because it has allegedly failed to help in an investigation.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.