Logitech International has reported a 2% drop in third-quarter sales as the computer peripherals-maker lapped tough comparisons from a year earlier, when the Covid pandemic boosted demand for its products.
However, the maker of keyboards, mice and headsets raised its forecast for the current fiscal year to between 2% and 5% sales growth in constant currency, and between $850-$900m in non-GAAP operating income. It had previously forecast flat sales growth, plus or minus 5%, and non-GAAP operating income of $800-850m.The company had posted quarterly sales of $1.67 billion a year earlier, boosted by stay-at-home workers buying more keyboards, mice and webcams.
The Swiss-American company, the first to manufacture and sell computer mice in the 1980s, said its non-GAAP operating income fell by 37% to $302m during the reported quarter. Late last year, the company said it was facing unprecedented problems getting parts to make its products, which also include headsets, video conferencing device and wireless speakers.
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