Logitech: reduces forecasts with war in Ukraine
(CercleFinance.com) - Logitech shares are losing ground on the Zurich stock exchange on Tuesday after the group reduced its forecasts for 2022, citing the impact of the war in Ukraine.
At around 11.30am, the Swiss digital peripherals specialist's shares were down 1.8%, a mirror image of the Swiss index, which was up 1.7%.
Logitech reported a 20% drop in sales this morning, including a 17% decline at constant exchange rates, to 1.23 billion dollars for Q4 ended March, slightly above the consensus of 1.21 billion dollars.
Excluding extraordinary items, Q4 operating income fell 52% to 156 million dollars, the mouse and keyboard maker said, in the consensus range of an operating profit of 140 to 170 million dollars.
For its new financial year, the group based between Lausanne and California said it was now expecting sales growth of between 2% and 4%, compared with around 5% previously.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
At around 11.30am, the Swiss digital peripherals specialist's shares were down 1.8%, a mirror image of the Swiss index, which was up 1.7%.
Logitech reported a 20% drop in sales this morning, including a 17% decline at constant exchange rates, to 1.23 billion dollars for Q4 ended March, slightly above the consensus of 1.21 billion dollars.
Excluding extraordinary items, Q4 operating income fell 52% to 156 million dollars, the mouse and keyboard maker said, in the consensus range of an operating profit of 140 to 170 million dollars.
For its new financial year, the group based between Lausanne and California said it was now expecting sales growth of between 2% and 4%, compared with around 5% previously.
Copyright (c) 2022 CercleFinance.com. All rights reserved.