Logitech sales advance on demand urge

Logitech International (LOGN.S) recorded a 13.6% increase in sales on Tuesday. The technology provider’s fourth-quarter profit advanced after people working from home purchased necessary products amid the coronavirus pandemic.

Logitech, one of the leading providers of computer hardware and software, reported a total of $709.2 million sales. Its profit advanced higher than last year’s $624.3 million record. More so, its non-GAAP operating income soared 23.3%, recording an overall total of $79 million in the quarter ended March.

Year-on-year records showed a 6.7% rise in sales, hitting its FY20 forecast. The company’s annual non-GAAP also rose to $378 million, surpassing its FY20 estimates of $365 million-$375 million.

The company reduced its full-year sales forecast in March as supply chain disruptions brought by the COVID-19 pandemic continue to press.