November 24, 2020

Logitech’s adjusted operating income rises 5.9per cent

1 min read

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.

Logitech computer keyboards are on sale at an electronics store in Westminister
Logitech computer keyboards are on sale at an electronics store in Westminister, Colorado January 15, 2016. REUTERS/Rick Wilking/Files

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)