July 23, 2019 / 12:55 PM / a month ago

Logitech on track to hit upper end of guidance: CEO

FILE PHOTO: Chief Executive Officer Bracken Darrell of the computer peripherals maker Logitech addresses a news conference in Zurich, Switzerland March 6, 2019. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Logitech International (LOGN.S) could reach the upper end of its full year sales guidance after a strong start to the year, Chief Executive Bracken Darrell said on Tuesday.

“If we continue exactly at this rate we would be at the high end of our guidance,” Darrell told Reuters after the computer peripherals maker reported a 9% sales increase during the three months to the end of June.

The Swiss-U.S. maker of mice, keyboards and headsets maintained its view for growing sales in the mid-to-high single-digit percentage range in constant currencies for the fiscal year ending next March 31 and for non-GAAP operating income to reach $375 million to $385 million.

During its previous financial year Logitech raised its outlook twice.

“It would be rare to increase guidance after one quarter, there’s a long way to go, but it is exciting to have a good strong first quarter, so we’ll see,” Darrell said when asked if the company could raise its outlook this year.

Reporting by John Revill

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