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Logitech reports USD21m net income for Q2 and predicts return to profit growth in Q3
(EquityBites Via Acquire Media NewsEdge) Manufacturer of personal computer peripherals Logitech International (SIX:LOGN) (Nasdaq:LOGI) on Wednesday reported net income of USD21m or USD0.11 per share for the second quarter of fiscal year 2010, compared to USD72m or USD0.39 per share in the same quarter last year.
Net sales for the second quarter were USD498m, down by 25% compared to USD665m in the corresponding period last year.
Logitech however expects to return to year-on-year profit growth in the third quarter, stated Gerald P Quindlen, president and CEO.
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