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Logitech results show rise

Swiss-based Logitech International results for the third quarter of Fiscal Year 2020 showed good results in spite of tariffs. Q3 sales were $903m, up 4% in US dollars and 5% constant currency, compared to Q3 of the prior year.
Q3 GAAP operating income grew 4% to $129m, compared to $123m in the same quarter a year ago. Q3 GAAP earnings per share (EPS) grew 3% to $0.69, compared to $0.67 in the same quarter a year ago.
Q3 non-GAAP operating income grew 6% to $152m, compared to $143m in the same quarter a year ago. 

“We delivered our biggest quarter in sales and profit in company history, topping $900 million in quarterly sales for the first time ever,” said Bracken Darrell, Logitech president and chief executive officer. “Our three largest businesses - Gaming, PC Peripherals and Video Collaboration - all had robust growth, including double-digit growth in Gaming and Video Collaboration. And despite the impact of tariffs, we delivered strong gross margins of 37.6%. On the back of this strong performance, we are confirming our annual guidance.”