Firing the mice did not save Logitech’s cheese

funny-pictures-cat-hunting-miceLogitech’s quarterly operating profit fell 1.5 percent, as strong year-end demand for newer music and video accessories failed to to do anything to stop shrinking demand for its computer bits.

It reported an operating profit of $74.2 million for the fiscal third quarter, a decline from $78.6 million.  This was reflecting a move to exit the mouse business over the past year.

Still the results were better than Wall Street predicted so it was not all bad. Analysts thought looking for an operating profit of $73.11 million.

Net sales in the December quarter rose about 3 percent to $621.1 million compared to the mean estimate by analysts of $631.6 million.

Logitech has refocused on new accessory lines like wireless music speakers, video conferencing and video game controllers. It hoped this would offset a decline in personal computers and demand for its mice and keyboards that defined the brand.