Logitech Q2 Profit Surges; Confirms FY15 Sales View - Quick Facts

(RTTNews) - Computer interface devices manufacturer Logitech International (LOGI) reported that its second quarter GAAP net income surged to $36.09 million or $0.22 per share from $14.4 million or $0.09 per share in the prior year.

Non-GAAP net income for the quarter climbed to $51.05 million or $0.31 per share from $31.52 million or $0.20 per share last year.

On average, 4 analysts polled by Thomson Reuters expected the company to report a profit of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales were $530.31 million, a decrease from the $531.97 million reported in the year-ago quarter. Wall Street expected revenues of $525.71 million for the quarter.

GAAP operating income was $42.12 million versus $17.21 million a year earlier, while non-GAAP operating income was $58.78 million, higher than the $37.23 million in the prior year quarter.

Looking ahead, Logitech confirmed its outlook for Fiscal Year 2015 of approximately $2.16 billion in sales, assuming relatively stable currency exchange rates, and approximately$170 million in non-GAAP operating income. Analysts now estimate the company to report revenue of $2.15 billion for fiscal 2015.