Logitech Stock Falls 10%

(RTTNews) - Logitech International S.A. (LOGI) is down 10.28 percent, losing $11.49 to $100.33 on Wednesday. The decline comes despite the company reporting higher second-quarter earnings, with net income rising to $180.04 million, or $1.25 per share, from $170.67 million, or $1.15 per share, a year earlier. Adjusted earnings totaled $216.66 million, or $1.51 per share.

Logitech is currently trading at $100.33, down from the previous close of $111.82 after opening at $100.40 on the Nasdaq. The stock has traded between $98.99 and $102.56 during the session. Trading volume stands at 1.11 million shares, compared with average volume of about 893,000 shares.

Second-quarter revenue increased 2.7 percent to $1.22 billion from $1.19 billion a year earlier. For the next quarter, Logitech expects revenue of $1.36 billion to $1.43 billion. The company's shares have traded between $83.32 and $129.66 over the past 52 weeks.