Logitech: raises full-year forecasts after 'strong' quarter
(CercleFinance.com) - Swiss computer accessories maker Logitech has raised its forecasts for the current year, after reporting "strong" performance in the first quarter and buying the US studio-quality microphone maker Blue Microphones.
The company has raised its fiscal year 2019 sales growth outlook range to between 9% and 11% at constant currencies, up from its previous outlook of high single-digit sales growth at constant currencies.
Logitech has also increased its its non-GAAP operating income outlook for fiscal year 2019 to a range of 325 million to 335 million dollars, up from its previous range of 310 million to 320 million dollars.
For the first quarter of fiscal year 2019, Logitech reported non-GAAP operating income that is up 41% at 61 million dollars, on sales that are up 15% at 608 million dollars.
Also, Logitech said it has agreed to acquire Blue Microphones, which is based in Southern California, for approximately 117 million dollars in cash.
The Logitech share is currently down 1.5% on the Swiss Exchange on Tuesday, as these good results were already expected by the market.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company has raised its fiscal year 2019 sales growth outlook range to between 9% and 11% at constant currencies, up from its previous outlook of high single-digit sales growth at constant currencies.
Logitech has also increased its its non-GAAP operating income outlook for fiscal year 2019 to a range of 325 million to 335 million dollars, up from its previous range of 310 million to 320 million dollars.
For the first quarter of fiscal year 2019, Logitech reported non-GAAP operating income that is up 41% at 61 million dollars, on sales that are up 15% at 608 million dollars.
Also, Logitech said it has agreed to acquire Blue Microphones, which is based in Southern California, for approximately 117 million dollars in cash.
The Logitech share is currently down 1.5% on the Swiss Exchange on Tuesday, as these good results were already expected by the market.
Copyright (c) 2018 CercleFinance.com. All rights reserved.