The FINANCIAL — Logitech International on October 25 announced financial results for the second quarter of Fiscal Year 2017.
Q2 sales were $564 million, up 9 percent compared to Q2 of the prior year. Q2 retail sales grew 14 percent, reaching a record level for Q2.
Q2 GAAP operating income was $53 million compared to $37 million a year ago. Q2 GAAP earnings per share (EPS) from continuing operations were $0.28 compared to $0.18 a year ago.
Q2 non-GAAP operating income was $65 million compared to $47 million a year ago, with non-GAAP EPS of $0.35 compared to $0.25 a year ago.
Q2 cash flow from operations was $74 million compared to $11 million a year ago.
“We’ve delivered an outstanding quarter – the highest Q2 retail sales in Logitech’s history – and a first half ahead of expectations,” said Bracken Darrell, Logitech president and chief executive officer. “Once more this quarter shows our strategy clearly: new product launches that again demonstrate the power of our innovation engine, ongoing operational excellence, and profitable growth across all our regions and in almost all our market opportunities. As we enter the second half of the year and our biggest quarter, we’ve got momentum, a winning product portfolio and a terrific team.”
Outlook
Logitech’s Fiscal Year 2017 outlook is 8 to 10 percent retail sales growth in constant currency and $195 million to $205 million in non-GAAP operating income.
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