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Logitech (LOGI) -11% in Frankfurt after issuing its third profit warning in six months. LOGI now...

Logitech (LOGI) -11% in Frankfurt after issuing its third profit warning in six months. LOGI now sees 2012 sales of $2.4B (vs. previous $2.5B) and operating income of $143M (vs. $185M). Incoming CEO Guerrino De Luca said this warning "will be the last," and admitted LOGI lacks "enough great products" in its pipeline.
Comments (1)
  • Dr. Poly
    , contributor
    Comments (362) | Send Message
     
    Editors:

     

    Operating income guidance of $90 Million - previously was $143 Million.

     

    Based on the current economic environment in mature western markets, and the Company’s current product offering, Logitech expects to deliver revenue of approximately $2.4 billion and operating income of approximately $90 million for this fiscal year. The gross margin for the full year, which factors in the very low margin previously reported for Q1, is estimated to reach approximately 33 percent. Gross margin in both Q3 and Q4 is expected to be well above the full year average.

     

    Logitech’s previous targets for FY 12 were sales of approximately $2.5 billion and operating income of at least $143 million. The Company’s previous FY 12 outlook did not include gross margin.
    22 Sep 2011, 08:00 AM Reply Like
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