Logitech's adjusted operating income rises 5.9%

Logitech's adjusted operating income rises 5.9%

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

LAUSANNE: Logitech International SA reported a 5.9 per cent rise in adjusted operating income for the third quarter on Tuesday (Jan 21), 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 4.4 per 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 37.6 per cent," Darrell added.

The Swiss-US 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.

Source: Reuters

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