RTTNews | Oct 26, 2021 10:19AM EDT

10:18 Tuesday, October 26, 2021 (RTTNews.com) - Shares of computer hardware manufacturer Logitech International SA (LOGI) are down 4 percent on Tuesday's trading as the company reported a sharp decline in operating profit in the second quarter due to large-scale supply chain problems.

The company said it was finding it really difficult to secure enough semiconductor chips as a result of clogged up transport links and erratic factory restarts by suppliers.

The company recently reported that its net income for the second quarter declined to $139.46 million or $0.81 per share from $266.91 million or $1.56 per share in the prior year.

Adjusted earnings per share were $1.05 per share, falling shy of the Street estimate of $1.10 per share.

The company's operating income declined 44 percent to $179 million from $322 million in the same quarter a year ago.

Currently at $77.76, the stock has traded between $75.12 and $140.17 during the past 52 weeks.

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