Logitech’s Q3 Sales Grow 85%, Operating Income Triples


Reading time ( words)

Logitech International has announced financial results for the third quarter of Fiscal Year 2021. 

  • Q3 sales were $1.67 billion, up 85 percent in US dollars and 80 percent in constant currency, compared to Q3 of the prior year.
  • Q3 GAAP operating income grew 248 percent to $448 million, compared to $129 million in the same quarter a year ago. Q3 GAAP earnings per share (EPS) grew 222 percent to $2.22, compared to $0.69 in the same quarter a year ago.
  • Q3 non-GAAP operating income grew 214 percent to $476 million, compared to $152 million in the same quarter a year ago. Q3 non-GAAP EPS grew 192 percent to $2.45, compared to $0.84 in the same quarter a year ago.
  • Cash flow from operations was $530 million, compared to $181 million in the same period a year ago.

“This quarter’s record results demonstrate the strength of our portfolio, addressing long-term growth trends in remote work and education, video collaboration, esports, and digital content creation,” said Bracken Darrell, Logitech president and chief executive officer. “We are increasingly investing in our capabilities and people for the growth potential we see in the future. Logitech has never been more relevant to our customers’ work, play and creativity.”

Outlook

Logitech raised its Fiscal Year 2021 annual outlook to between 57 and 60 percent sales growth in constant currency, and approximately $1.05 billion in non-GAAP operating income. The Company’s previous outlook was between 35 and 40 percent sales growth in constant currency, and a range of $700 million to $725 million in non-GAAP operating income.

Share

Print


Suggested Items

Engineers Receive $22.8 Million from DOD for Cross-Disciplinary Projects

07/19/2016 | University of Texas at Austin
Three researchers in the Cockrell School of Engineering at The University of Texas at Austin have been selected by the Department of Defense to lead Multidisciplinary University Research Initiative (MURI) projects, receiving grants totaling $22.8 million to help advance innovative technologies in energy, computing and nanoelectronics.

How a NASA Team Turned a Smartphone into a Satellite Business

02/19/2016 | NASA
Satellites aren’t small or cheap. The Solar Dynamics Observatory launched by NASA in 2010 weighs about 6,800 pounds and cost $850 million to build and put into orbit. Even the satellites built under NASA’s Discovery Program, aimed at encouraging development of low-cost spacecraft, still have price tags beyond the reach of smaller companies or research organizations.



Copyright © 2021 I-Connect007. All rights reserved.