STOCKS NEWS EUROPE-Logitech shares fall 7 pct after sales drop

Thu Apr 25, 2013 4:39am EDT

Shares in Logitech International fall over 7 percent to their lowest level since early March after the world's biggest producer of computer mice reports a 12 percent drop in sales in the fourth quarter.

The fall comes as the Logitech CEO says he will keep videoconferencing unit LifeSize following a strategic review.

"Logitech remains a construction site with restructuring continuing and repositioning in progress. Tablet Accessories are successful but only 7 percent of total sales and thus not sufficient to bring Logitech back to growth," says Vontobel analyst Michael Foeth, who has a 'hold' rating on the stock.

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