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Logitech Q4 Profit Surges


Logitech International SA (USA) (NASDAQ: LOGI) reported a 58 percent rise in its earnings for the fiscal fourth quarter.

Logitech reported a quarterly net profit of $16.7 million, or $0.10 per share, compared to $10.6 million, or $0.06 per share, in the year-ago period.

Its net sales dropped 4.7 percent to $467.2 million from $490.3 million. However, sales gained 1 percent in constant currency. Analysts were projecting earnings of $0.08 per share on revenue of $467.52 million.

Non-GAAP operating profit slipped to $14.5 million for the fourth quarter, from $21.8 million.

"We closed Fiscal Year 2015 with a better-than-expected performance and good momentum in spite of currency headwinds," said Bracken Darrell, Logitech president and chief executive officer. "Our Growth category – Gaming, Tablet and Other Accessories, Mobile Speakers and Video Collaboration – sales grew by 28 percent in constant currency over the full year, accelerating in the fourth quarter to 45 percent growth, the best performance of the fiscal year."

Logitech shares fell 0.76 percent to close at $14.40 yesterday.

Posted-In: profitEarnings News


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