LOGITECH International increased its sales during its fourth quarter, the computer peripherals maker said on Tuesday (Apr 30), snapping two-and-a-half years of sales downturns after a pandemic-driven boom.
The maker of computer mice and keyboards said its sales increased by 5 per cent in US dollars and constant currency to US$1 billion during the three months to March.
It was the first positive quarter reported by Logitech since October 2021. The Swiss-American company had been struggling in recent quarters, following an 80 per cent sales surge during the Covid-19 years when people bought its products to work and play from home.
During the fourth quarter, Logitech’s non-GAAP operating profit soared 93 per cent to US$159 million.
For the full year to March, Logitech said its annual sales fell 5 per cent in US dollars to US$4.3 billion, better than its outlook for sales in the US$4.2 billion to US$4.25 billion range.
Non-GAAP operating profit rose 19 per cent to US$699 million, the company said, better than its guidance for US$610 million to US$660 million.
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Logitech is now aiming to increase its sales by 0 to 2 per cent in US dollars to US$4.3 billion to US$4.4 billion over the next 12 months, while non-GAAP operating income is expected to be US$685 million to US$715 million. REUTERS
