LOGI reported 16% lower revenue and a consequential 70% reduction in net income in their fiscal third quarter.
LOGI announces that net profit rose 7% under strong demand for cordless mice and speakers. The company maintained guidance for 2009 figures at a time when investors largely expected a reduction in expectations. While other companies lower expectations and post losses due to the U.S. economy's slowdown, Logitech's positive outlook and results buoyed the shares. MarketWatch, "Logitech profit up 7% on demand for cordless mice, speakers"
Logitech International SA announced that it is open to making further acquisitions. The company reported record second-quarter sales of $ 595 million and an operating income of $ 80.4 million while warning of impairment losses of $ 55-75 million. According to the CEO, cash can be used effectively through making acquisitions and therefore the company will make acquisitions in the future.