March 3, 2020 / 6:39 AM / 25 days ago

Logitech International expects profit hit from coronavirus

ZURICH, March 3 (Reuters) - Logitech International said on Tuesday supply problems caused by the coronavirus outbreak will dent its full year profit, as it gave its outlook for the next financial year.

The maker of computer mice and keyboards for players of Fortnite and League of Legends, said it expected operating profit for the year to the end of March 2020 in the range of $365 million to $375 million, down from its previous view for $375 million to $385 million.

"We are encouraged by continued strong demand for our products. That said, we are slightly adjusting our operating income outlook to account for supply chain uncertainties related to the trajectory of the coronavirus," said Chief Executive Bracken Darrell.

The Swiss-U.S. company said it expected sales to increase in the mid-single digit range in its 2021 financial year, and operating income to rise to $380 million to $400 million, it said, ahead of its investor day in New York.

Reporting by John Revill

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