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UPDATE 1-Logitech fourth-quarter profit rises 7 pct

(Adds sales, operating income details, background)

NEW YORK, April 21 (Reuters) - The world's largest computer mice maker Logitech LOGN.VX posted a 7 percent rise in fourth-quarter net profit on Monday, helped by higher sales, and stood by its fiscal 2009 targets.

The company said net income for the fiscal fourth quarter rose to $60.3 million, or 32 cents per share, compared to $56.2 million, or 29 cents per share in the same period a year earlier.

The group had been expected to post an 11-percent rise in fourth-quarter net profit to $62 million, according to the average of estimates in a Reuters poll of 12 analysts.

Logitech, which also makes speakers, webcams and keyboards, said operating profit was up 20 percent to $66.1 million on overall sales that rose 17 percent to $601 million in the quarter.

Retail sales rose 15 percent, spurred by strong uptake of cordless mice and speakers across all sales regions.

Its revenue growth highlighted “the strength of our product portfolio and our geographical diversity,” Chief Executive Gerald Quindlen said in a statement.

The company said it still expects to post 15 percent growth in sales and operating income in fiscal 2009, which ends on March 31. The targets were announced in January.

Logitech shares have lost some 35 percent of their value so far this year as concerns about a slowdown in consumer spending have weighed on the stock. (Reporting by Aarthi Sivaraman and Emily Chasan; Editing by Alan Raybould and Ovais Subhani)

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