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Logitech Raises FY21, Long-Term Financial Outlook

Logitech International (LOGI) said it increased its outlook for fiscal year 2021 and also raised long-term financial model.

The company raised its non-GAAP operating income outlook to about $1.1 billion from the previous outlook of about $1.05 billion.

The company now expects sales growth in constant currency for fiscal year 2021 to be about 63 percent compared to previous outlook of between 57 and 60 percent sales growth in constant currency.

Looking ahead for fiscal year 2022, the company expects non-GAAP operating income to be between $750 million and $800 million; sales growth in constant currency to be about flat, plus or minus 5 percent.

The company increased its long-term sales growth in constant currency expectations to 8 to 10 percent, from the prior estimation of high-single digits growth. The non-GAAP gross margin target has been raised to between 39 and 44 percent, from 36 to 40 percent. The non-GAAP operating margin target has improved to between 14 and 17 percent, from 11 to 14 percent.

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