Logitech: raises outlook after sales and profit jump.
(CercleFinance.com) - Logitech said on Tuesday it has delivered a "strong financial performance" in the first quarter of its fiscal year, prompting the Swiss computer mouse-maker to raise its annual outlook.
First-quarter sales amounted to 530 million dollars, up 13 per cent in constant currency compared to the first quarter of the prior year.
In the meantime, first-quarter non-GAAP operating income grew 14 per cent to 43 million dollars, compared to 38 million dollars a year ago.
"We're off to a strong start," said chief executive officer Bracken Darrell.
As a result, the Lausanne-based group raised its fiscal year 2018 outlook from 10 to 12 per cent sales growth in constant currency and 260 to 270 million dollars in non-GAAP operating income.
Shares were up 2 percent in Zurich after these numbers.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
First-quarter sales amounted to 530 million dollars, up 13 per cent in constant currency compared to the first quarter of the prior year.
In the meantime, first-quarter non-GAAP operating income grew 14 per cent to 43 million dollars, compared to 38 million dollars a year ago.
"We're off to a strong start," said chief executive officer Bracken Darrell.
As a result, the Lausanne-based group raised its fiscal year 2018 outlook from 10 to 12 per cent sales growth in constant currency and 260 to 270 million dollars in non-GAAP operating income.
Shares were up 2 percent in Zurich after these numbers.
Copyright (c) 2017 CercleFinance.com. All rights reserved.