Market Intelligence

Logitech Q3 Profit Rises; Lifts FY19 Adj. Operating Income View

( - Logitech International ( LOGI ) reported that its net income for the third quarter of fiscal year 2019 rose to $112.81 million from $80.77 million last year. GAAP earnings per share grew 40 percent to $0.67 from $0.48 in the same quarter a year ago.

Non-GAAP earnings per share grew 22 percent to $0.79, compared to $0.65 in the same quarter a year ago.

Sales were $864 million, up 6 percent in US dollars and 8 percent in constant currency, compared to the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share and revenues of $860 million for the third-quarter. Analysts' estimates typically exclude special items.

Logitech raised its Fiscal Year 2019 profit outlook to between $340 million and $345 million in non-GAAP operating income, up from between $325 million and $335 million, on an annual sales outlook of 9 to 11 percent growth in constant currency.

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