Free Research Report as Logitech’s Reported Record Sales; Adjusted EPS Advanced 19.67%
Stock Monitor: Mercury Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 25, 2018 / Active-Investors.com has just released a free earnings report on Logitech International S.A. (NASDAQ: LOGI) ("Logitech"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LOGI. Logitech posted its third quarter fiscal 2018 (Q3 FY18) financial results on January 23, 2018. The leading music and gaming products manufacturers' revenue and earnings surpassed market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Logitech International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During the third quarter of the fiscal year 2018, Logitech posted net sales of $812.02 million compared to $666.71 million in Q3 FY17, reflecting an increase of 21.80%. Logitech's sales growth was primarily backed by Video Collaboration, Gaming, and Mobile Speakers growth of 25.00%.
Logitech's gross profit was $275.60 million in Q3 FY18 compared to $246.76 million in Q3 FY17, increasing 11.69% on a y-o-y basis. The Company's selling, general, and administrative expenses (SG&A) amounted to $22.29 million in the reported quarter compared to $24.60 million in the year ago same period, decreasing 9.38% on a y-o-y basis. The Company's operating income was $100.26 million in Q3 FY18 compared to $96.28 million in Q3 FY17, increasing 4.14% on a y-o-y basis.
Logitech's net income was $80.77 million in the reported quarter compared to $97.47 million in Q3 FY17, decreasing 17.13% on a y-o-y basis. The Company's earnings per share (EPS) were $0.48 in Q3 FY18, compared to $0.59 in the first quarter of the previous fiscal year, decreasing 18.64% on a y-o-y basis.
Logitech's adjusted net income was $110.52 million in Q3 FY18 compared to $92.35 million in Q3 FY17, advancing 19.67%, compared to the year ago same period. Adjusted earnings were $0.65 in the reported quarter compared to $0.56 in Q3 FY17, reflecting an increase of 16.07% on a y-o-y basis.
Logitech International's Segment Details
The Company's segments revenue breakdown are as follows:
The Pointing Devices segment reported net sales of $140.98 million in Q3 FY18 compared to $142.17 million in Q3 FY17, reflecting a decrease of 0.83% compared to the year ago corresponding period.
The Keyboards and Combos segment posted net sales of $126.37 million in Q3 FY18 compared to $125.29 million in Q3 FY17, increasing 0.86% on a y-o-y basis.
The PC Webcams segment's net sales decreased 10.57% to $27.28 million on a y-o-y basis in the reported quarter compared to $30.50 million in Q3 FY17.
The Tablet and Other Accessories segment posted net sales of $26.65 million in Q3 FY18 compared to $24.85 million in Q3 FY17, increasing 7.23% on a y-o-y basis.
The Video Collaboration segment recorded net sales of $46.25 million in Q3 FY18 compared to $35.81 million in Q3 FY17, increasing 29.17% on a y-o-y basis.
The Mobile Speakers segment's net sales advanced 38.28% to $147.38 million on a y-o-y basis in the reported quarter compared to $106.58 million in Q3 FY17.
The Audio- PC & Wearables segment reported net sales of $84.44 million in Q3 FY18 compared to $67.23 million in Q3 FY17, reflecting an increase of 25.60% compared to the year ago same period.
The Gaming segment's net sales advanced 62.16% on a y-o-y basis to $173.80 million in the reported quarter, compared to $107.18 million in Q3 FY17.
The Smart Home segment posted net sales of $38.69 million in Q3 FY18 compared to $26.94 million in Q3 FY17, increasing 43.61% on a y-o-y basis.
Cash Matters
As on December 31, 2017, Logitech had cash and cash equivalents of $564.89 million compared to $513.58 million as on December 31, 2016. The Company's cash inflow from operating activities was $188.58 million in the reported quarter compared to a cash inflow of $148.76 million in Q3 FY17.
Outlook
For the fiscal year 2018, the Company is expecting sales growth to be in the range of 12.00% to 14.00%, and operating income to be in the band of $270.00 million to $280.00 million.
Stock Performance Snapshot
January 24, 2018 - At Wednesday's closing bell, Logitech International's stock rose 1.68%, ending the trading session at $42.36.
Volume traded for the day: 1.55 million shares, which was above the 3-month average volume of 435.97 thousand shares.
Stock performance in the last month – up 25.33%; previous three-month period – up 14.02%; past twelve-month period – up 65.28%; and year-to-date – up 25.92%
After yesterday's close, Logitech International's market cap was at $7.14 billion.
Price to Earnings (P/E) ratio was at 30.76.
The stock has a dividend yield of 1.49%.
The stock is part of the Technology sector, categorized under the Computer Peripherals industry.
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