Logitech Confirms FY23 Guidance

(RTTNews) - Logitech International (LOGI) confirmed its financial guidance for fiscal year 2023 and provided its outlook for the first half of fiscal year 2024.

In advance of a meeting to be held with financial analysts and investors on Wednesday, Logitech confirmed its current fiscal year 2023 outlook of between 15 percent and 13 percent sales decline in constant currency, and between $550 million and $600 million in non-GAAP operating income.

Logitech announced its outlook for the first half of fiscal year 2024. It expects revenue to be between $1.8 billion and $1.9 billion, a decline in US dollars of between 22 percent and 18 percent. It projects non-GAAP operating income to be between $160 million and $190 million.

Logitech maintained its long-term non-GAAP model. The expectation for sales growth in constant currency continues to be from 8 to 10 percent. The expected long-term non-GAAP gross margin target is maintained at between 39 and 44 percent. The expected long-term non-GAAP operating margin target is maintained at between 14 and 17 percent.

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