Logitech: second-quarter sales reach record, but shares drop
(CercleFinance.com) - Logitech posted on Tuesday its highest second-quarter sales ever, helped by the strength of its gaming and video collaboration products.
The Swiss company, which makes computer mice, speakers, webcams and keyboards, said second-quarter sales rose 9% to 691 million dollars.
Operating income grew by 18% to 85 million dollars, compared to 71 million dollars in the same quarter a year ago, the company said.
The Lausanne-based group delivered a strong gross margin of 37.6%, above its long-term target, and said it was moving into the holiday quarter with a line-up of "innovative products already well-received by consumers."
Despite these positive comments, the shares are tumbling almost 7% on the SIX Swiss Exchange this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Swiss company, which makes computer mice, speakers, webcams and keyboards, said second-quarter sales rose 9% to 691 million dollars.
Operating income grew by 18% to 85 million dollars, compared to 71 million dollars in the same quarter a year ago, the company said.
The Lausanne-based group delivered a strong gross margin of 37.6%, above its long-term target, and said it was moving into the holiday quarter with a line-up of "innovative products already well-received by consumers."
Despite these positive comments, the shares are tumbling almost 7% on the SIX Swiss Exchange this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.