Logitech Q2 Profit Misses View; Confirms FY Sales Outlook

(RTTNews) - Logitech International (LOGI) reported that its net income for the second quarter of fiscal year 2022 declined to $139.46 million or $0.81 per share from $266.91 million or $1.56 per share in the prior year.

Non-GAAP earnings per share decreased to $1.05, from $1.87 in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share for the quarter. Analysts' estimates typically exclude special items. Quarterly sales were $1.31 billion, up 4 percent in US dollars and 2 percent in constant currency, compared to the prior year. Analysts expected revenue of $1.27 billion for the quarter.

Logitech confirmed its fiscal year 2022 outlook of flat sales growth in constant currency, plus or minus five percent, and $800 million to $850 million in non-GAAP operating income.