Logitech Eyeing $30M FY 2020 Revenue Hit From Coronavirus Uncertainties

Logitech scaled back its profit outlook for fiscal 2020 ending March 31 to $365 million-$375 million due to “short-term coronavirus impacts,” said the company Tuesday. Previous guidance was $375 million-$385 million. The company reaffirmed its outlook of mid-high single-digit percentage sales growth in constant currency but expects a $30 million hit to revenue for the year. The impact on operating income from the coronavirus plus Section 301 tariffs on goods produced in China is expected to be about $60 million, it said. Though the company sees “continued strong demand” for products, “we are slightly adjusting our operating income outlook to account for supply chain uncertainties related to the trajectory of the coronavirus,” said CEO Bracken Darrell.