CALIFORNIA: Logitech International on Tuesday (Oct 20) reported a surge in second-quarter revenue and net profit as the computer peripherals maker benefited from a shift to working from home during the COVID-19 pandemic.
The maker of computer keyboards and mice also raised its full-year forecast, saying it now expects annual sales to increase between 35 per cent and 40 per cent in constant currencies and non-GAAP operating income of between US$700 million and US$725 million.
“The growth trends that drive our business have accelerated as society adjusts to its new reality,” said Chief Executive Officer Bracken Darrell in a statement.
“The organisation leaders I speak to envision people increasingly working from multiple locations, a hybrid work culture that is emerging as the norm.”
The Swiss-US firm has been profiting from people working from home, which has driven a rise in video calls, and companies refitting their offices to comply with social distancing restrictions.
Logitech said sales rose 75 per cent to US$1.26 billion in the three months to the end of September. Net income rose to US$266.9 million from US$73 million a year earlier.
