Logitech beats forecasts after US tariff
Logitech beats forecasts after US tariff By John Revill
ZURICH, July 28 (Reuters) - Logitech International LOGN.S reported better-than-expected quarterly sales and profit on Tuesday, helped by a big refund of tariffs imposed under U.S. President Donald Trump.
The Swiss-U.S. maker of computer mice, keyboards and headsets reported non-GAAP adjusted operating income of $290 million for the three months to end-June, up 44% from a year earlier and well ahead of analysts' forecast of $209 million.
Results were boosted by a $61 million tariff refund related to products made in China, Vietnam, Malaysia, Mexico, Thailand and Taiwan and shipped to the United States, Logitech's largest market.
(Reporting by John Revill. Editing by Mark Potter)
((John.Revill@thomsonreuters.com; +41 41 528 36 37; Reuters Messaging: john.revill.thomsonreuters.com@reuters.net))
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