Logitech’s adjusted operating income rises 5.9per cent

REUTERS: Logitech International SA reported a 5.9per cent rise in adjusted operating income for the third quarter on Tuesday, boosted by higher demand for its gaming and video conferencing products.

Adjusted operating income rose to US$151.7 million in the quarter ended Dec. 31 from US$143.2 million a year earlier.

Logitech, which makes computer peripherals such as keyboards and mouse, said its sales rose 4.4per cent to US$902.7 million in the quarter, edging past analysts’ estimates of US$900 million, according to IBES data from Refinitiv.

The company posted strong growth across its three biggest units, with gaming and video collaboration businesses growing at a double-digit rate, Chief Executive Officer Bracken Darrell said.

“Despite the impact of tariffs, we delivered strong gross margins of 37.6per cent,” Darrell added.

The Swiss-U.S. computer accessory maker confirmed its fiscal year 2020 outlook of mid to high single-digit sales growth in constant currency and US$375 million to US$385 million in adjusted operating income.

(Reporting by Shubham Kalia in Bengaluru; Editing by Anil D’Silva)