May 21 Logitech International SA
said its audit committee is conducting an investigation
into some of its accounting matters related to its
earlier-stated results and the company may revise its fiscal
year 2014 results.
The Switzerland-based computer accessories maker said the
audit committee investigation also includes issues that are
under scrutiny in an ongoing formal investigation by the U.S.
Securities Exchange Commission (SEC).
The SEC investigation included the company's revision of
results concerning warranty accruals and amortization of
intangible assets in an amendment to its annual filing for 2013
and a transaction with a distributor for 2007 to 2009.
Logitech added that it would delay filing its fiscal 2014
results report with the U.S. regulator due to an investigation
of its accounting matters in the past.
The company, however, does not expect the investigation to
result in any change in its previously provided 2015 outlook,
adding that it could predict the outcome of the investigation at
Logitech said in March it expected sales of $2.16 billion
and adjusted operating income of $145 million in fiscal year
(Reporting by Kanika Sikka and Sruthi Ramakrishnan in
Bangalore; Editing by Lisa Shumaker)