(Corrects to show revised financial statements may affect
multiple years. Clarifies in fifth paragraph that company cannot
predict outcome of investigation.)
May 21 Logitech International SA
said its audit committee is conducting an investigation
into some of its accounting matters related to its
The Switzerland-based computer accessories maker said it
will delay filing its fiscal 2014 results with a U.S. regulator
and may revise financial statements from prior years.
Logitech 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.
The company, however, does not expect the investigation to
result in any change in its previously provided 2015 outlook,
adding that it could not predict the outcome of the
investigation at this time.
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)