Logitech: trims guidance due to coronavirus
(CercleFinance.com) - Swiss computer accessory maker Logitech forecast an eighth year of revenue growth, citing "continued strong demand" for its products.
At a meeting held with financial analysts and investors in New York, the Geneva-based company confirmed its fiscal year 2020 sales outlook of mid-to-high single-digit sales growth at constant currencies.
That said, Logitech slightly adjusted its outlook for operating income to account for supply chain uncertainties relating to the trajectory of the coronavirus.
The group said that it now expects non-GAAP operating income of between 365 million and 375 million dollars, versus its previous guidance of 375 million to 385 million dollars.
"Despite mild guidance cut, Logitech's management is executing strongly," analysts at UBS reacted.
The shares were up 2.5% after these comments, in line with Zurich's blue-chip SMI index, also up 2.5%
Copyright (c) 2020 CercleFinance.com. All rights reserved.
At a meeting held with financial analysts and investors in New York, the Geneva-based company confirmed its fiscal year 2020 sales outlook of mid-to-high single-digit sales growth at constant currencies.
That said, Logitech slightly adjusted its outlook for operating income to account for supply chain uncertainties relating to the trajectory of the coronavirus.
The group said that it now expects non-GAAP operating income of between 365 million and 375 million dollars, versus its previous guidance of 375 million to 385 million dollars.
"Despite mild guidance cut, Logitech's management is executing strongly," analysts at UBS reacted.
The shares were up 2.5% after these comments, in line with Zurich's blue-chip SMI index, also up 2.5%
Copyright (c) 2020 CercleFinance.com. All rights reserved.