Logitech CEO sees possible upside to targets
Zurich, September 8, 2010
The chief executive of Logitech, the world's top computer mouse maker, said its current sales targets were secure and could be beaten if the global economy improved.
Logitech, which also makes speakers, webcams and keyboards, raised its full fiscal year 2011 sales outlook in July to a range of $2.3 billion to $2.35 billion from $2.3 billion.
"At our annual general meeting we will be reaffirming those targets," CEO Gerald Quindlen told Reuters in a telephone interview ahead of the group's annual general meeting on Wednesday.
"We said that we felt we could meet these raised targets even if the economy did not improve, so that if in general the economy improves that would provide additional upside," he said.
"We still feel good about the prospects for our products for the year."
Shares in the company rose 1 per cent at 1142 GMT, outperforming a negative Swiss midcap index.
Quindlen declined to comment on sales for July and August, but said Logitech had bullish targets for all its products.
"With the exception of gaming we are expecting double-digit growth in every product category this year, and we've shared that."
He also said tablet computers, such as Apple Inc's iPad and Samsung Electronics' Galaxy Tab, would provide an additional avenue for sales and did not threaten to replace conventional computers.
"We think that the tablet category is a plus overall for the company," he said. – Reuters