Logitech’s adjusted operating income rises by 5.9%
Logitech International SA reported a 5.9% 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 $151.7 million in the quarter ended Dec. 31 from $143.2 million a year earlier.
Logitech, which makes computer peripherals such as keyboards and mouse, said its sales rose 4.4% to $902.7 million (694.4 million pounds) in the quarter, edging past analysts’ estimates of $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%,” 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 $375 million to $385 million in adjusted operating income.
(Content and photos syndicated via Reuters)