Logitech Modifies Profit Guidance On Coronavirus Impacts - Quick Facts

(RTTNews) - Logitech International (LOGI) slightly updated its fiscal 2020 earnings outlook to $365 million to $375 million in non-GAAP operating income, compared to prior outlook of $375 million to $385 million. The company reconfirmed its sales outlook of mid to high single-digit sales growth in constant currency.

For fiscal 2021, Logitech projects $380 million to $400 million in non-GAAP operating income, and mid single-digit sales growth in constant currency.

For long-term, the company's non-GAAP gross margin target remains 36 to 40 percent and the operating margin target remains 11 to 14 percent. Expectations of long-term sales growth in constant currency continue to be in the high single-digits.