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 fiscal year 2022.
Over the past quarter, Logitech products were sold for a record $ 1.31 billion. The growth in annual terms 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 whole year will be at the level of last year with an accuracy of ± 5%, and non-GAAP operating income will be $ 800-850 million.
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