Ahead of the Bell: Logitech International

Logitech rises in premarket as 3Q results top Street view, boosts full-year revenue outlook

Associated Press

NEW YORK (AP) -- Shares of Logitech International are rising in premarket trading on Thursday as the maker of computer accessories and other gadgets reported fiscal third-quarter results that topped analysts' expectations and raised its full-year revenue forecast.

On Wednesday Logitech International SA said that it quarterly adjusted earnings came in at 35 cents per share while revenue totaled $627.9 million. Analysts surveyed by FactSet predicted earnings of 22 cents per share on revenue of $534.4 million.

The company said that it boosted its full-year guidance due to its third-quarter performance. Logitech now foresees fiscal 2014 revenue coming in just under $2.1 billion. Its prior outlook was for $2 billion in revenue.

Logitech's stock gained $2.07, or 15.7 percent, to $15.29 in premarket trading about 45 minutes before the market open.

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