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Computer parts maker Logitech Q4 sales rise; first positive qtr in over 2 years
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Computer parts maker Logitech Q4 sales rise; first positive qtr in over 2 years
Apr 29, 2024 7:13 PM

ZURICH, April 30 (Reuters) - Logitech International

increased its sales during its fourth quarter, the

computer peripherals maker said on Tuesday, 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% in U.S. dollars and constant currency to $1.01

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% 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% to $159 million.

For the full year to March, Logitech said its annual sales

fell 5% in U.S. dollars to $4.30 billion, better than its

outlook for sales in the $4.2-$4.25 billion range.

Non-GAAP operating profit rose 19% to $699 million, the

company said, better than its guidance for $610 million to $660

million.

Logitech is now aiming to increase its sales by 0%-2% in

U.S. dollars to $4.3-$4.4 billion over the next 12 months, while

non-GAAP operating income is expected to be $685-$715 million.

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