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Computer mouse maker Logitech International has raised its full-year sales and profit outlook, driven by strong quarterly growth.
The Swiss-American company has updated its financial projections for fiscal year 2025, reflecting a positive first-quarter performance.
Updated Financial Projections:
Logitech now expects full-year sales to be between $4.34 and $4.43 billion, up from the previous projection of $4.3-$4.4 billion.
Additionally, the company anticipates Non-GAAP operating income between $700 and $730 million, compared to the earlier forecast of $685 million—$715 million.
First Quarter Performance:
In the first quarter, which ended June 30, Logitech reported a 12% increase in sales, reaching $1.1 billion. This figure surpassed analysts’ consensus forecast of $1.025 billion, compiled by Visible Alpha.
Non-GAAP operating income for the quarter soared 96% to $153 million, showcasing the company’s robust growth. Logitech is headquartered in Lausanne, Switzerland, and San Jose, California.
CEO’s Statement:
“We started the new fiscal year strong, with high-quality, broad-based growth across all regions and key categories,” said CEO Hanneke Faber. Faber, a former Unilever executive, took charge of the company in December 2023 and has been instrumental in its recent success.
Adapting to Market Changes:
Logitech, which produces a wide range of products, including keyboards, video conferencing gear, and gaming headsets, had faced a downturn in demand following a pandemic-driven boom.
Earlier this year, the company posted its first quarterly sales increase in two-and-a-half years. Faber has outlined plans to expand Logitech’s customer base beyond offices, targeting sectors such as education and healthcare.
