Logitech International SA Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Provides Earnings Guidance for the Fiscal Year 2017
For the nine months, the company reported net sales of $1,710.875 million compared to $1,587.259 million a year ago. Operating income was $175.542 million compared to $118.703 million a year ago. Income before income taxes was $176.748 million compared to $118.359 million a year ago. Net income from continuing operations was $166.451 million or $0.01 per diluted share compared to $111.352 million or $0.67 per diluted share a year ago. Net income was $166.451 million or $1.01 per basic and diluted share compared to $90.620 million or $0.55 per diluted share a year ago. Net cash provided by operating activities was $234.290 million compared to $150.846 million a year ago. Purchases of property, plant and equipment were $23.372 million compared to $50.443 million a year ago. Non-GAAP operating income was $201.779 million compared to $156.573 million a year ago. Non-GAAP net income from continuing operations was $183.492 million or $1.11 per diluted share compared to $139.437 million or $0.84 per diluted share a year ago.
For the fiscal year 2017, the company raised outlook to 12% to 13% retail sales growth in constant currency, up from its previous range of 8% to 10% retail sales growth in constant currency. The company also increased its non-GAAP operating income outlook to a range of $225 million to $230 million, up from its prior range of $195 million to $205 million.