Logo
Thursday, 28 May 2020
Logo
The News and Media Division of The Insight Partners
Tuesday, 12 May 2020 12:00 pm

Logitech reported 13. % rise in sales as work from home boosts demand

Logitech International reported a 13.6% rise in fourth-quarter sales on Tuesday as more people used its products while working from home due to the coronavirus crisis.

newsImage
 

Logitech, which makes webcams, keyboards, mouses as well as video conferencing devices and software, said its fourth-quarter sales rose to $709.2 million, compared with $624.3 million a year ago.

Non-GAAP operating income rose 23.3% to $79 million in the quarter that ended in March.

For the full year, the company reported a rise of 6.7% in sales, meeting its FY20 outlook for a mid to high single digit percentage rise, while its annual non-GAAP operating income, at $387 million, beat its FY20 target range of $365 million-$375 million.

Logitech had reduced its full-year profit outlook in March to take into account supply chain disruptions due to the coronavirus crisis. The company had reiterated its sales forecast.

“Video conferencing, working remotely, creating and streaming content, and gaming are long-term secular trends driving our business, Chief Executive Officer Bracken Darrell said in a statement. “The pandemic hasn’t changed these trends; it has accelerated them.”

Read here

Tags Logitech Video conferencing Webcam Work from home COVID-19 crisis Coronavirus

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

media@smartmarketnews.com | sales@smartmarketnews.com

Contact Us
Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
Follow Us:
© The News and Media Division of The Insight Partners 2019 | All Rights Reserved | Privacy Policy