Logitech Q2 Delivers Best Retail Sales Growth Since 2010

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The FINANCIAL — Logitech International on October 22 announced financial results for the second quarter of Fiscal Year 2016.

Q2 sales were $540 million, up 2 percent compared to Q2 of the prior year. Q2 retail sales (total sales excluding OEM and Lifesize) were $496 million and grew 12 percent in constant currency.

Q2 GAAP operating income was $26 million. Q2 GAAP earnings per share (EPS) were $0.11, compared to $0.22 in the same quarter a year ago.

Q2 non-GAAP operating income was $42 million, with non-GAAP EPS of $0.22, compared to $0.31 in the same quarter a year ago.

“I’m excited by our performance this quarter. We delivered our best retail sales growth in almost five years, exceeding expectations,” said Bracken P. Darrell, Logitech president and chief executive officer. “Our growth was broad-based across categories and regions. In constant currency, Americas grew 9 percent, EMEA grew 7 percent and Asia Pacific grew 26 percent. In our Growth category, Gaming, Video Collaboration and Mobile Speakers each grew more than 50 percent. Our reinvigorated innovation engine and commitment to design are delivering powerfully and we have strong momentum heading into the holiday peak season.”

Outlook

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

 

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