Reuters: Technology News: Logitech posts wider Q1 loss as weak demand bites

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Logitech posts wider Q1 loss as weak demand bites Jul 26th 2012, 02:56 Tweet Share this Email Print Related News Microsoft posts quarterly loss but beats Wall Street Thu, Jul 19 2012 Travelers profit misses estimates on disaster losses Thu, Jul 19 2012 UPDATE 5-Lower costs help Mattel beat 2nd-quarter estimates Tue, Jul 17 2012 Logitech headquarters are pictured in Morges near Lausanne January 6, 2009. Credit: Reuters/Denis Balibouse Wed Jul 25, 2012 10:56pm EDT (Reuters) - Logitech, the world's biggest computer mouse maker, fell to a deeper first-quarter net loss, missing analyst forecasts, as the company struggles with weak demand amid worries about the global economy. The Swiss-listed firm said it booked a first-quarter net loss of $52 million, or 32 cents per share, wider than a year-earlier net loss of $30 million, or 17 cents per share. The company was expected to post a first-quarter loss of $24.7 million, or 14 cents a share, according to a Reuters Poll. Quarterly sales were $469 million, down 2 percent from $480 million a year ago. Excluding the unfavorable impact of exchange rates, sales were flat compared with the prior year, Logitech said. The Swiss-listed firm has been grappling with weak demand as concerns about the global economy keep shoppers from buying new webcams, speakers and keyboards. The euro's weakness against the dollar and the fact that computer systems are becoming less dependent on peripheral components hit its figures earlier this year. Logitech has implemented a restructuring plan, and said it continues to expect to benefit from the organizational streamlining and cost savings. (Reporting by Sakthi Prasad in Bangalore; Editing by Chris Gallagher) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions