Logitech Lowers Profit Outlook On Coronavirus Concerns

Logitech Lowers Profit Outlook On Coronavirus Concerns

“Makes sense given the supply chain dependencies.  But strong and growing demand will likely prevail.” – Ira

Logitech International (NASDAQ:LOGI) has experienced strong growth from its video collaboration and gaming business, but on Tuesday, the company warned that the outbreak of COVID-19 will ding its operating profit in the short term.

While management reaffirmed its net sales outlook, they lowered the outlook for operating profit for fiscal 2020 to a range of $365 million to $375 million on a non-GAAP basis. This is only slightly down from the previous range of $375 million to $385 million.

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