Swiss computer parts makers Logitech International reported its third quarter net income jumped to $244.68 million or $1.55 per share from $140.15 million or $0.86 per share in the same quarter last year.
Non-GAAP earnings per share was $1.53, up 34% from the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.17 per share for the quarter. Analysts’ estimates typically exclude special items.
Quarterly sales were $1.26 billion, down 1% in US dollars and 3% in constant currency, compared to the prior year. Analysts expected revenue of $1.25 billion for the quarter.
Logitech raised its sales outlook for fiscal year 2024 to a range of $4.2 billion – $4.25 billion from the prior outlook of $4 billion – $4.15 billion. Analysts expect revenue of $4.22 billion for the year.
The company lifts annual non-GAAP operating income guidance to a range of $610 million – $660 million from $525 million – $575 million.