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LOGI Withdraws Target; Sheds Workforce

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January 06, 2009 |Comments: 0
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LOGI

Logitech International SA (LOGI) slipped around 8% after withdrawing its financial targets for fiscal 2009, due to the worsening global recession.

The manufacturer of computer products also announced that it will shed 15% of its workforce.

The Switzerland-based company had slashed its sales and profit estimates in October.

LOGI is scheduled to post third-quarter results later this month. Meanwhile, analysts are expecting a profit of 54 cents for the current quarter. The company is a Zacks #3 Rank ("Hold").

Read the full analyst report on LOGI

 
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