The Swiss company Logitech, known as a manufacturer of PC peripherals, has published another report. Her financial calendar is not the same as usual, so this was the report for the second quarter of the 2022 fiscal year.
Over the past quarter, Logitech products were sold for a record $ 1.31 billion. The year-on-year growth was 4%, or 2% if we take into account the change in the exchange rate.
At the same time, operating profit for the year decreased from $ 322 million to $ 179 million, that is, by 44%. If the calculation is not performed according to the GAAP method, the picture changes somewhat, but not fundamentally: it turns out that operating income for the year decreased from $ 354 million to $ 211 million, or by 40%.
The manufacturer confirmed its previous forecast that sales for the year will be in line with last year’s level with an accuracy of ± 5%, and non-GAAP operating income will be $ 800-850 million.