Logitech's Profits Drop During Second Quarter of Fiscal Year 2012

Logitech is already well into its fiscal year 2012 and, since it finished its second quarter on September 30, 2011, it, naturally, had to step forward and tell analysts how things went.

As it happened, Logitech didn't have much to brag about, except, perhaps, that everything went more or less as it expected.

While it did score some profits, in the end the finances took a dive compared to the previous year, even though sales were, overall, slightly above the ones of Q1 FY 2011.

More specifically, sales reached $589 million (420.95 million Euro, give or take), a sum that is just 1% higher on-year.

Then again, this only happened because exchange rates had a favorable impact.

If they were to be disregarded, sales actually decreased by 2% and ultimately led to operating income of $23 million (16.3 million Euro).

For the sake of comparison, last year's second quarter operating income was of $51 million (36.44 million Euro).

The same holds true for net income, where $17 million (12.14 million Euro) was underwhelming compared to $41 million (29.30 Euro) in Q3, FY 2012.

“Our Q2 results are consistent with our expectations and the full-year outlook we presented on September 22,” said Guerrino De Luca, Logitech chairman of the board and acting president and chief executive officer.

“As we focus on reinvigorating our product offerings and executing in sales and marketing, we expect our initiatives will begin to contribute to improved performance as we move through the second half of FY 2012.”

For the rest of the year, and FY 2012 overall, the peripheral makers expects a smoother and more profitable business progression, though profits, ultimately, won't be too large.

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