Logitech Q1 Profit Down; Confirms FY 2016 Outlook - Quick Facts

(RTTNews) - Logitech International SA (LOGI) reported that its first-quarter net income declined to $7.44 million from $19.68 million in the prior year. GAAP earnings per share were $0.04, compared to $0.12 in the same quarter a year ago.

The latest-quarter result included $13 million in restructuring costs.

Non-GAAP earnings per share was $0.16, compared to $0.22 in the same quarter a year ago.

Quarterly sales were $470 million, down 2 percent compared to prior year. retail sales were $425 million and grew 7 percent in constant currency.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.11 per share and revenues of $467.85 million for the quarter. Analysts' estimates typically exclude special items.

Logitech confirmed its fiscal year 2016 outlook of $150 million in non-GAAP operating income and 7 percent growth for retail sales in constant currency.