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Logitech LifeSize CEO Forecasts Rebound in Revenue Growth
January 31, 2012 | Hogan Keyser
Lower sales growth in the last quarter of 2011 "was a moment in time, a transition, not a trend," Colin Buechler, the unit's chief executive officer, said in a phone interview. "The platform we're unveiling today will help us back to the expected growth rates."
LifeSize's new universal video collaboration, or UVC, system provides a "simpler, cost-effective" option for companies, Buechler said. Logitech, the world's biggest maker of computer mice, bought LifeSize for $405 million in 2009. Logitech is seeking new sources of revenue as the proliferation of tablet computers, which aren't controlled by mice, are eroding its traditional desktop and notebook business.
Logitech, based in Morges, Switzerland, last week cut full- year forecasts for the third time, citing the weaker euro and declining sales. Revenue at LifeSize climbed 5.8 percent in the last three months of 2011 to $38.2 million, down from 19 percent growth in the previous quarter.
"The LifeSize miss was unexpected," John F. Bright, an analyst at Avondale Partners LLC, wrote in a note.
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