23.01.2014 04:18:19

Logitech Posts Profit In Q3; Lifts FY View - Quick Facts

(RTTNews) - Computer interface devices manufacturer Logitech International (LOGI) reported third quarter GAAP net income of $48.5 million or $0.30 per share, compared to a loss of $195.33 million or $1.24 per share in the prior year.

Non-GAAP net income for the quarter grew to $57.95 million or $0.35 per share from $29.98 million or $0.19 per share last year.

On average, 4 analysts polled by Thomson Reuters expected the company to report a profit of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly sales were $627.89 million, higher than the $614.5 million reported in the year-ago quarter. Wall Street expected revenues of $595.59 million for the quarter.

GAAP operating income was $53.25 million versus a loss of $180.41 million a year earlier, whereas non-GAAP operating income rose to $67.46 million from $41.28 million in the prior year quarter.

Looking ahead, Logitech has raised its full-year outlook for Fiscal Year 2014. The company now expects sales of just under $2.1 billion, compared to the previously expected $2.0 billion, and non-GAAP operating income in the range of $120 million to $125 million, compared to the previously expected $100 million. Analysts now estimate the company to report revenue of $2.06 billion for fiscal 2014.

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