Logitech cuts 2012 targets on economic uncertainty

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

Logitech eyes boost from 'digital home' after profit drop

(c) 2011 AFP

Citation: Logitech cuts 2012 targets on economic uncertainty (2011, September 22) retrieved 4 April 2020 from https://phys.org/news/2011-09-logitech-economic-uncertainty.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments