Logitech posts record Q3 sales figures and raises profit outlook
Swiss PC and mobile peripherals designer and manufacturer Logitech has posted its financial results for Q3 of the 2019 fiscal year, with record-breaking sales and profits
According to the firm’s press release, its Q3 sales reached US$864mn.
This US dollar figure is a 6% increase year-on-year, while the rise amounts to 8% in constant currency.
“We delivered record sales and profits in our biggest quarter of the year,” said Bracken Darrell, Logitech’s President and CEO, in the company’s press release.
“Our innovative, diverse portfolio drove double-digit growth across Gaming, Video Collaboration, and Creativity & Productivity. On the back of this powerful performance, we are raising our profit outlook for the year.”
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Logitech’s Q3 GAAP operating income exceeded 2018’s $100mn, reaching $123mn. This represents a 40% increase in earnings per share.
It’s year-to-date cash flow from operations also saw an increase over 2018, totalling $273mn.
As a result of this strong performance, Logitech has raised its annual outlook for Fiscal Year 2019 from $325-335mn to $340-345mn in non-GAAP operating income.