Logitech raises full-year outlook as sales and profit expectations climb

(Reuters) -Logitech International raised its full-year outlook after a strong performance and a growth in demand in the second quarter, the computer keyboard and mouse maker said on Tuesday.

The Swiss-American technology company now expects its full-year sales in the range of $4.39 billion to $4.47 billion, up from its previous guidance $4.34 billion to $4.43 billion.

The company's non-GAAP operating income rose 5% to $193 million in the quarter ended September, beating analyst consensus forecast of $176 million in a Visible Alpha poll.

The company, whose other products also include mobile speakers and webcams, said revenue grew 6% to $1.12 billion, beating the forecast of $1.10 billion.

"Our strong results and overall business momentum give us the confidence to raise our annual outlook," Logitech CFO Matteo Anversa said.

The figures continued a return to sales growth at Logitech, which struggled with lower demand following a pandemic-driven boom, as people stocked up on its equipment to work from home during lockdowns.

The company, based in Lausanne, Switzerland, and San Jose, California, said it expects non-GAAP operating income to be between $720 million and $750 million for the year, compared with its previous guidance of $700 million to $730 million.

(Reporting by John Revill and Surbhi Misra; Editing by Rashmi Aich)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• US Senate Democrats urge USPS to halt work on mail-in voting rules
• Brazil's Supreme Court faces rare test as justices turn against each other
• Stellantis in talks with Huawei, JAC over Maserati partnership, sources say