Logitech Q1/10

Logitech has announced its results for Q1 FY2010, and revenues are down once again, this time by 36% year-on-year [although when adjusted for constant currency, by 33%]. Logitech has continued to say that revenues have been adversely affected by de-stocking in the channel. Gerald Quindlen, CEO, said: "During Q1 we made substantial progress in helping our channel partners reset their new, lower levels of weeks of supply. While there is more progress to be made, we continue to expect this reset to be completed by the end of Q2".