(Reuters) — Logitech International reported a 13.6% rise in fourth-quarter gross sales on Tuesday as extra folks used its merchandise whereas working from dwelling as a result of coronavirus disaster.
Logitech, which makes webcams, keyboards, and mice, in addition to video conferencing gadgets and software program, stated its fourth-quarter gross sales rose to $709.2 million, in contrast with $624.Three million a 12 months in the past.
Non-GAAP working revenue rose 23.3% to $79 million within the quarter that resulted in March.
For the total 12 months, the corporate reported an increase of 6.7% in gross sales, assembly its FY20 outlook for a mid to excessive single-digit proportion rise, whereas its annual non-GAAP working revenue, at $387 million, beat its FY20 goal vary of $365 million to $375 million.
Logitech had diminished its full-year revenue outlook in March to bear in mind provide chain disruptions as a result of coronavirus disaster. The firm had reiterated its gross sales forecast.
“Video conferencing, working remotely, creating and streaming content, and gaming are long-term secular trends driving our business,” CEO Bracken Darrell stated in an announcement. “The pandemic hasn’t changed these trends; it has accelerated them.”
The firm additionally retained the outlook it gave in March for a mid-single-digit proportion gross sales development in fixed currencies for the 12 months to the tip of March 2021, and it expects an increase in working revenue to $380 million to $400 million.
(Reporting by John Revill and Aishwarya Nair in Bengaluru, modifying by Uttaresh.V.)