Logitech sales rise 4 percent in September, beats forecast

The Swiss-American maker of keyboards, mice and headsets said its sales in the three-month period ended Sep 30 increased 4 per cent to US $1.31 billion, beating the forecast of US $1.25 billion from a Refinitiv poll of analysts.

However, non-GAAP operating income declined 40 per cent to $211 million during the quarter, the company said in a statement.

Logitech has been enjoying a boom during the coronavirus pandemic, as staff working from home bought more of its keyboards and mice, while its webcams were also increasingly used for remote meetings.

Players of games such as League of Legends, Fortnite and over multiplayer games have also been a driver of growth, purchasing headsets and specially adapted keyboards and controllers.

The company on Tuesday maintained its financial outlook for the financial year through March 2022 and said it expects a full-year non-GAAP operating income of US $800 million to US $850 million.

Bracken Darrell confirms our full-year outlook, despite unprecedented supply chain challenges, Chief Executive said in a statement.

The company also forecast constant sales growth in flat currency, plus or minus 5 per cent.