Logitech boosts outlook on earnings

Logitech International, the Swiss-American mouse and computer peripherals company, boosted its outlook for the year after posting what it called “strong growth” in revenue and profitability for its fiscal first quarter.

The company, with administrative offices in Romanel-sur-Morges (Vaud), reported late Thursday net income of 20 million dollars for the three-months ending June 30, compared with a loss of 35 million dollars for the same period a year earlier.

Sales rose sharply to 479 million, 47 percent higher than the same quarter in 2009.

“Based on our strong Q1 performance and improving consumer demand for our products, we are increasingly optimistic about our full-year performance for Fiscal Year 2011 and have raised our outlook accordingly,” Gerald P. Quindlen, Logitech president and CEO, said in a statement.

“Furthermore, we are enthusiastic about the pending launch of Logitech products for Google TV and the potential for further upside to our (2011 fiscal year) sales outlook.”