Logitech Q3 Profit Rises; Lifts FY Outlook

(RTTNews) - Logitech International (LOGI) reported that its net income for the third quarter of Fiscal Year 2017 rose to $97.47 million or $0.59 per share from $65.09 million or $0.39 per share in the same quarter last year.

Non-GAAP earnings per share grew 37% to $0.56, compared to $0.41 a year ago.

Quarterly retail sales grew 13 percent in constant currency. The retail sales grew 12 percent in USD. Quarterly sales were $667 million, up 7 percent compared to the prior year, which still included OEM sales.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share and revenues of $643.48 million. Analysts' estimates typically exclude special items.

Logitech raised its Fiscal Year 2017 outlook to 12 to 13 percent retail sales growth in constant currency, up from its previous range of 8 to 10 percent retail sales growth in constant currency. The Company also increased its non-GAAP operating income outlook for Fiscal Year 2017 to a range of $225 to $230 million, up from its prior range of $195 million to $205 million.