Sale, Non Gaap, Logitech

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Logitech sales rise 66per cent on higher demand amid work-from-home activity

Logitech sales rise 66per cent on higher demand amid work-from-home activity

27/7/2021 5:25:00 AM

Logitech sales rise 66per cent on higher demand amid work-from-home activity

Computer peripherals maker Logitech said on Tuesday it was seeing no let-up in demand from stay-at-home workers, after reporting higher operating ...

BusinessComputer peripherals maker Logitech said on Tuesday it was seeing no let-up in demand from stay-at-home workers, after reporting higher operating income and sales at the start of its 2022 business year.FILE PHOTO: Logitech keyboards are seen in the computer shop in Zenica, Bosnia and Herzegovina October 20, 2020. REUTERS/Dado Ruvic

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27 Jul 2021 09:55AMShare this contentBookmarkREUTERS: Computer peripherals maker Logitech said on Tuesday it was seeing no let-up in demand from stay-at-home workers, after reporting higher operating income and sales at the start of its 2022 business year.

Sales rose 66per cent to US$1.31 billion during the three months to the end of June, up from US$792 million a year earlier. Non GAAP operating income doubled to US$235 million in the first quarter.AdvertisementAdvertisementTrends like working from home and the rise of online gaming continued to fuel Logitech's performance as it lapped tough comparisons with last year's pandemic-boosted sales. headtopics.com

The Swiss-American company, which makes computer keyboards, mice and webcams, has been boosted in recent months as more people worked from home during the COVID-19 pandemic.The unprecedented surge in demand made Logitech raise its guidance five times while its stock price gained 87per cent in 2020.

From September, Logitech will replace Swatch Group in the Swiss blue-chip SMI index, bourse operator SIX said earlier this month.AdvertisementAdvertisementOn Tuesday, Logitech kept its guidance for the year to the end of March 2022, saying it still expects non GAAP operating income of US$800 million to US$850 million. It still expects sales growth in constant currency to be roughly in line with the previous financial year - up to 5per cent higher or lower.

(Reporting by Akriti Sharma in Bengaluru and John Revill in Zurich; Editing by Subhranshu Sahu) Read more: CNA »

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