Logitech quaterly sales declines by 2%

Computer peripherals maker Logitech International has reported a 2% drop in third-quarter sales.

The Swiss-American company’s sales had been boosted by the pandemic driven demand for its products in previous quarters.

Inspite of the sales drop, Logitech raised its forecast for the current fiscal year to between 2% and 5% sales growth.

Logitech also raised its non-GAAP operating income to between $850 million and $900 million in non-GAAP operating income.

It had previously forecast flat sales growth, plus or minus 5%, and non-GAAP operating income of $800 million to $850 million.

Logitech’s quarterly sales had fallen to $1.63 billion in the three months ending Dec. 2021.

The company had posted quarterly sales of $1.67 billion a year earlier, boosted by stay-at-home workers buying more keyboards, mice and webcams.

Its non-GAAP operating income fell by 37% to $302 million during the reported quarter.

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