Logitech Q3 Profit Down, But Raises FY Outlook

(RTTNews) - Logitech International (LOGI) reported that its third-quarter net income declined to $210.01 million or $1.24 per share from $382.52 million or $2.22 per share in the previous year.

Non-GAAP earnings per share declined 37 percent to $1.55, from $2.45 in the same quarter a year ago.

Sales for the third-quarter were $1.63 billion, down 2 percent in US dollars and constant currency, compared to the prior year.

Logitech raised its fiscal year 2022 annual outlook to between 2 and 5 percent sales growth in constant currency, and between $850 million and $900 million in non-GAAP operating income. The company's previous outlook was flat sales growth in constant currency, plus or minus five percent, and $800 million to $850 million in non-GAAP operating income.