Logitech Q4 Results Top View; Confirms FY21 Outlook

(RTTNews) - Logitech International (LOGI) reported that its fourth-quarter net income rose to $213.92 million or $1.26 per share from $42.12 million or $0.25 per share in the prior year.

Non-GAAP earnings per share grew to $0.42 from $0.38 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

GAAP operating income was $32 million, down 24 percent primarily due to a one-time, acquisition-related charge. Non-GAAP operating income grew 23 percent to $79 million, from the prior year.

Sales were $709.25 million, up 14 percent in US dollars and 15 percent in constant currency compared to the prior year. Analysts expected revenue of $652.10 million for the quarter.

Logitech confirmed its fiscal year 2021 outlook of mid single-digit sales growth in constant currency and $380 million to $400 million in non-GAAP operating income.