Logitech Reports Increased Second Quarter Sales

Swiss-American software developer and manufacturer of computer peripheral devices Logitech International SA (SWX: LOGN) reported its results for the second quarter of the year in which the company recorded increased sales of computer peripherals.

The company believes that a shift to working from home and remote learning during the pandemic period is partly responsible for the demand increase for computer peripheral devices like keyboards, headsets and mice.

For the second quarter ended September 30, the company recorded sales of computer peripherals totaling to $1.31 billion denoting a 4% increase compared to what the company recorded last quarter. This was also higher than the $1.25 billion sales which analysts were expecting for the company.

Nonetheless, the company reported that non-GAAP operating income declined by a significant 40% to $211 million in the second quarter.

The company however maintained its annual outlook for the financial year ending March 2022, Logitech said it expects a full year non-GAAP operating income of between $800 million to $850 million.

We are confirming our full-year outlook, despite unprecedented supply chain industry challenges,” said the company’s CEO, Bracken Darrell.

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