Logitech issues profit warning

Swiss peripheral firm Logitech said its results for the financial year ending March 31st 2011 won’t be as buoyant as it expected.

It’s blaming a drop on sales and profitability on Europe. In a statement it said: “Logitech has experienced lower than expected demand for its retail products in EMEA from both distribution partners and consumers”.

It didn’t say whether that is as a result of general weakness in the PC market.

It had forecast sales of $2.4 billion to $2.42 billion, but now estimates them to be between $2.35 billion to $2.37 billion.

Operating income will be between $140 million to $150 million, down from its forecast of $170 million to $180 million.

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