Logitech Delivers Strong Start to Fiscal Year 2022

[btarunr]

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the first quarter of Fiscal Year 2022. "We've started strong in Fiscal Year 2022, with Q1 sales up 58% in constant currency and profits doubling versus last year," said Bracken Darrell, Logitech president and chief executive officer. "Our key categories grew high double digits. This performance demonstrates the strength of our capabilities, excellent operational execution, and ability to capitalize on long-term trends, like gaming, streaming and creating, hybrid work and video everywhere."

• Q1 sales were $1.31 billion, up 66 percent in US dollars and 58 percent in constant currency, compared to Q1 of the prior year.
• Q1 GAAP operating income grew 143 percent to $203 million, compared to $83 million in the same quarter a year ago. Q1 GAAP earnings per share (EPS) grew 160 percent to $1.09, compared to $0.42 in the same quarter a year ago.
• Q1 non-GAAP operating income grew 100 percent to $235 million, compared to $117 million in the same quarter a year ago. Q1 non-GAAP EPS grew 91 percent to $1.22, compared to $0.64 in the same quarter a year ago.

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.

Logitech has made its prepared written remarks for the financial results video-conference available online on the Logitech corporate website.

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[Space Lynx]

logitech are making good products lately. i think i have 3 of their mice now. though i still use my razer naga x like 24/7

razer naga x is such an improvement over previous naga's, its truly become my favorite mouse of all time. speaking of which, i may be looking to buy one on black friday, just as an emergency backup.

 

[AsRock]

logitech are making good products lately. i think i have 3 of their mice now. though i still use my razer naga x like 24/7

razer naga x is such an improvement over previous naga's, its truly become my favorite mouse of all time. speaking of which, i may be looking to buy one on black friday, just as an emergency backup.

HAHA

i have had 3 HOTAS in the passed year, all failed. How ever i do like there mice in the passed.

 

[Space Lynx]

HAHA

i have had 3 HOTAS in the passed year, all failed. How ever i do like there mice in the passed.

sorry to hear that mate. i still have a logitech 5.1 system i bought for the playstation 2, and it still works great. its like 18 years old. lol

i have never had flight gaming gear before, always wanted some... but hmmm yeah thanks for the warning. i will wait for a new version or a diff brand before i go that route.

 

[AsRock]

Well thinking about it i should of sent both G700 mouses back as the side buttons suck.

There warranty is getting shorter and shorter on the items so that will give them a boost too.

 

[PLAfiller]

They make a lot of stuff, but I feel like what pulled them ahead this quarter was video conferencing hardware. Everything is selling like hot cakes, even the BRIO series for home use.

 

[Gungar]

HAHA

i have had 3 HOTAS in the passed year, all failed. How ever i do like there mice in the passed.

The HOTAS are rebranded Saitek products it's not designed by Logitech.

 

[AsRock]

The HOTAS are rebranded Saitek products it's not designed by Logitech.

Yeah so what they did is to buy a company and carry on making the flawed items. But they are still owned by them and made no effort of fixing all the flaws.