UPDATE 2-Logitech cuts outlook, shares drop

* Fiscal 2011 revs seen $2.35 billion to $2.37 billion

* Operating profit seen from $140 million to $150 million

* Lower demand in Europe, Middle East, Africa

* U.S. shares slump after hours
(Adds background on Google TV platform)

SAN FRANCISCO, March 31 (Reuters) – Logitech International
(LOGI.O: Quote, Profile, Research), the world’s largest computer mouse maker, lowered its
fiscal 2011 outlook due to weakness in its Europe, Middle East
and Africa retail region, sending its shares sharply lower.

The Swiss group, which also makes speakers, webcams and
keyboards, said on Thursday it sees fiscal 2011 sales between
$2.35 billion and $2.37 billion, down from $2.4 billion to
$2.42 billion.

Logitech’s Nasdaq-listed shares fell 9 percent to $16.48 in
after hours trade after closing down 0.71 percent.

The company had increased its revenue target in January due
to strong growth in Asia.

“Logitech has experienced lower than expected demand for
its retail products in EMEA from both distribution partners and
consumers,” the company said in a statement.

Logitech has expressed confidence about the long-term
potential of the Google (GOOG.O: Quote, Profile, Research) TV platform for which it makes
set-top boxes and other accessories. But the platform has not
caught on with consumers since its late 2010 launch.

It said operating income in the fiscal year ending in March
would range from $140 million to $150 million, less than a
previous forecast of $170 million to $180 million.

Logitech plans to announce its fiscal 2011 results on April
27.
(Reporting by Noel Randewich; Editing by Phil Berlowitz)

UPDATE 2-Logitech cuts outlook, shares drop