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Logitech reports 2% decline in quarterly sales; raises outlook -Breaking

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© Reuters. FILEPHOTO: A Logitech mouse was placed at the keyboard of a computer shop in Zenica (Bosnia and Herzegovina), October 20, 2020. REUTERS/Dado Ruvic

(Reuters) –Logitech International saw a 2% decline in its third quarter sales. This was despite the fact that the company’s computer peripherals maker made tough comparisons to a year ago, when there had been a pandemic which increased demand.

But, the manufacturer of keyboards, mice, headsets increased its current-year forecast to between 2% & 5% sales growth constant currency and between $850 Million and $900M in non GAAP operating income.

It previously predicted flat sales growth of plus or minus 5 percent and non-GAAP operational income between $800 million and $850 million.

Sales fell to $1.63 Billion in the quarter ending December 2021. A year prior, the company posted quarterly sales of $1.67billion. This was due to stay-at home workers purchasing more keyboards and mice as well as webcams.

According to the report, the non-GAAP operating income of the Swiss-American business, which is the first company to produce and sell computer mouse in the 1980s was down 37% to $302 Million.

Last year, the company stated that they were having unprecedented difficulty getting parts to manufacture its products. This includes headsets and video conferencing devices.

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