Logitech Down Nearly 20% On Reduced 2011 Guidance (LOGI)
Shares of Logitech International SA (NASDAQ:LGI) are trading down big today in the Swiss market after the technology firm lowered its 2011 fiscal year outlook.The company now projects sales in the range of $2.35 to $2.37 billion, down from its previous estimate of $2.40 to $2.42 billion, with the consensus estimate falling in at $2.41 billion.Full year operating income is now estimated at $140 to $150 million, down from the previous $170 to $180 million.The company is scheduled to report earnings at the end of the month, on April 28, 2011.LOGI is trading down 18.04% to $14.86 per share.
Credit: Financial News Network
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