Logitech books profit drop on investment dealing

Swiss computer equipment group Logitech on Tuesday announced a fourfold decrease in its second quarter net profit for the 2007-2008 fiscal year to 11.5 million dollars (eight million euros), due to investment dealing.

The company said in a statement that it had recorded a 67.4-million-dollar impairment loss on the value of its short-term investments.

Without the operation, second quarter net income would have reached 79 million dollars, compared to 49 million dollars for the same period in the last fiscal year, it added.