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|23rd January 2019, 07:23||#1|
Join Date: May 2010
Logitech doing better than expected
Gaming-powered third quarter
Logitech raised its full-year profit outlook thanks to strong growth in its gaming hardware business.
The mouse maker saw strong sales of its gaming products such as superfast keyboards, headphones and computer mouse used in multi-player online games like League of Legends and Fortnite.
Chief Executive Officer Bracken Darrell said Logitech’s diverse portfolio drove double-digit growth across gaming, video collaboration and creativity & productivity.
The company now expects its fiscal year 2019 non-GAAP operating income to be between $340 million and $345 million, up from its previous guidance of $325 million-$335 million.
Logitech expects sales to grow between 9 per cent and 11 per cent in constant currency during the fiscal year, which runs to the end of March.
The company had raised its guidance earlier in July, following big increases in sales of its products used in video collaboration, gaming and for computer tablets.
For third quarter ended 31 December, net income rose to $112.8 million, beating forecasts of $99.3 million in a Reuters poll of analysts.
Net sales rose 8 percent to $864.4 million in the quarter, traditionally Logitech’s biggest sales period, beating predictions of $852 million. Sales from its gaming business rose 23 percent to 213.7 million.
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