(Corrects headline and first paragraph to reflect that
Logitech's accounting probe is not yet concluded, and second
paragraph to remove reference to penalty or further
* Logitech restates 2011, 2012 results
* No change to 2013 or 2014 earnings
* Shares rise 1.6 pct, bucking sector fall
ZURICH, Sept 4 Logitech said it would
make minor adjustments to past earnings due to erroneously
booking inventories, amid an investigation that the company
believes it will conclude in coming weeks.
Shares in the Lausanne, Switzerland-based computer
accessories maker, which had unnerved investors in May when it
delayed results as it came under scrutiny by the U.S. Securities
Exchange Commission (SEC), rose.
On Thursday, Logitech said it would remove some income from
the last quarter of 2011 and move it into the first three months
"The restatement is not expected to materially impact fiscal
years 2013 and 2014," Logitech said in a statement.
The firm said the move would not affect its cash statements
in any year.
Logitech shares rose on the news. At 0954 GMT, the shares
traded 1.6 percent higher, bucking a 0.2 percent fall in the
"We expect that the scrutinized accounting practice will no
longer be an issue in a few weeks, with few consequences on
reported earnings, in particular not because of any financial
penalty," Zuercher Kantonalbank analyst Andreas Mueller said.
He rates the stock at overweight.
On Wednesday, German sportswear maker Puma said it
had understated its 2012 pretax profit by at least 10 million
euros ($13 million) because of accounting errors.
(1 US dollar = 0.7606 euro)
(Reporting by Katharina Bart; Editing by Mark Potter and Susan