Shares of Logitech International fell after the company said it may be unable to meet future demand due to an incident at a semiconductor supplier's manufacturing facility.
Shares were down 11.5% to $98.78 in after-hours trading on Tuesday. The stock closed up 3.6% at $111.66, and was up 11% this year through the close.
The technology company on Tuesday said that a "serious incident" took place late last month at a manufacturing facility of one of its semiconductor suppliers that resulted in its temporary closure.
The closure is "likely to impact the company's ability to effectively meet future demand," Logitech said. "The company is working on multiple mitigation plans."
The incident could impact Logitech's third-quarter net sales by up to $200 million, the company said, adding that the incident should be resolved by the fourth quarter.
For the current second quarter, the company said it expects sales between $1.185 billion and $1.22 billion, including a $20 million headwind from the incident.
Logitech on Tuesday reported a first-quarter profit of $235.7 million, or $1.63 a share. That compares with a profit of $146 million, or 98 cents a share, a year earlier.
Stripping out certain one-time items, the company reported adjusted earnings of $1.85 a share. Analysts polled by FactSet were expecting $1.26 a share.
Net sales rose to $1.23 billion from $1.15 billion. Analysts were expecting $1.2 billion.
