Logitech International SA Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Raises Earnings Guidance for the Fiscal Year 2018
For the nine months, the company reported net sales of $1,974.437 million compared to $1,710.875 million a year ago. Operating income was $190.626 million compared to $175.542 million a year ago. Income before income taxes was $192.829 million compared to $176.748 million a year ago. Net income was $174.138 million or $1.03 per diluted share compared to $166.451 million or $1.01 per diluted share a year ago. Net cash provided by operating activities was $256.084 million compared to $240.647 million a year ago. Purchases of property, plant and equipment were $27.593 million compared to $23.372 million a year ago. Non-GAAP operating income was $231.520 million compared to $201.779 million a year ago. Non-GAAP net income was $216.515 million or $1.28 per diluted share compared to $183.492 million or $1.11 per diluted share a year ago.
The company raised its fiscal year 2018 outlook to 12% to 14% sales growth in constant currency, up from its previous range of 10% to 12% sales growth in constant currency. The company also increased its non-GAAP operating income outlook for fiscal year 2018 to a range of $270 million to $280 million, up from its prior range of $260 million to $270 million.