Switzerland's Logitech International (LOGI) reported second quarter net income of $72 million or $0.39 per share, compared to last year period's $12 million or $0.06 per share, which included an impairment loss of $67.4 million or $0.36 per share on the value of short-term investments.
Quarterly sales rose 12% to $665 million from $595 million in the same quarter last year.
Analysts polled by First Call/Thomson Financial expected the company to report earnings for the quarter of $0.43 per share on $672.09 million sales.
Gross margin for the second quarter was 34.3%, versus 36.3% in the prior year period.
For fiscal year 2009, the company currently expects growth of 6%-8% in sales and 3%-5% in operating income, revised from the original target of 15% growth for both, due to pervasive economic uncertainty, both in North America and Europe.
Logitech said it continues to expect fiscal year 2009 gross margin to be above its long-term target range of 32%-34%.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.