Wednesday, January 22nd 2014

Logitech Delivers Better-Than-Expected Q3 FY 2014 Results

Logitech International (SIX:LOGN)(Nasdaq:LOGI) today announced financial results for the third quarter of Fiscal Year 2014, with better-than-expected total sales of $628 million, up 2 percent compared to the third quarter of the prior year. Q3 GAAP operating income was $53 million, with GAAP earnings per share (EPS) of $0.30 compared to a loss a year ago. Q3 non-GAAP operating income was $67 million, with non-GAAP EPS of $0.35, up 84 percent year over year. Cash flow from operations for Q3 was $94 million.

"We're pleased by our solid Q3 performance, with both sales and profit growth," said Bracken P. Darrell, Logitech president and chief executive officer. "We're encouraged by the robust sales in our growth categories, as well as the success of our ongoing initiatives to improve profitability, which includes the earlier-than-expected return to profitability of LifeSize. We still have more work ahead, but our turnaround is on track as we continue to build a faster and more profitable Logitech."

Retail sales for Q3 were up 4 percent year over year. Combined, Logitech's retail growth categories delivered 62 percent growth compared to the prior year.
  • Tablet Accessories sales grew 95%
  • Audio - Wearables and Wireless sales grew 79%
  • PC Gaming sales grew 25%
Outlook
Based on its Q3 performance, Logitech has raised its full-year outlook for Fiscal Year 2014. The Company now expects sales of just under $2.1 billion, compared to the previously expected $2.0 billion, and non-GAAP operating income in the range of $120 million to $125 million, compared to the previously expected $100 million.

Prepared Remarks Available Online
Logitech has made its prepared written remarks for the financial results teleconference available online on the Logitech corporate Web site at http://ir.logitech.com, in the Calendar section.
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7 Comments on Logitech Delivers Better-Than-Expected Q3 FY 2014 Results

#2
mr2009
not that surprising as i love logitech... owned their mouse, keyboard and headset and no complain so far..
Posted on Reply
#3
FreedomEclipse
~Technological Technocrat~
by: mr2009
not that surprising as i love logitech... owned their mouse, keyboard and headset and no complain so far..
pitty they couldnt come up with a better successor to the Z5500's
Posted on Reply
#4
Dj-ElectriC
Even as a Logitech user myself, i'll take the rightful-douche hat here and say that i am disappointed in Logitech.

Logitech used to be all about affordability, low prices with good products. When the new mech-keyboards hype started, i expected them to rule the market, not come out very late with very little at very much.

Also, i expect them to improve and revive their gaming-grade mice area. I don't want any dirty laser-sensor mouse.
Posted on Reply
#5
erixx
Long time since last acquisition of a Logi product. Present catalogue has nothing for me.
Waiting for a mech keys+LCD keyboard, as my G19 is terrible dirty and used... but working as ever!:pimp:
Posted on Reply
#6
Svarog
Well they make rock solid stuff.

My G500 Mouse is over 4 years old already and still works/looks as new.

Also owning a couple of their remotes, work so so well.
Posted on Reply