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Published: April 26, 2017 | Source: Logitech | Author: Mark Campbell

Logitech delivers their highest sales growth in 6 years

Logitech delivers their highest sales growth in 6 years

Logitech delivers their highest sales growth in 6 years

 
Logitech has released their 2017 financial year, delivers their highest sales growth in 6 years and their highest earning in nine years.
 
The company has claimed that they have increased sales in almost every product category, from video collaboration tools, mobile speakers, gaming, PC peripherals and smart home devices. Logitech also plans to further increase these sales numbers with their upcoming product innovations. 
 
Vincent Pilette, CEO of Logitech, called 2017 a “watershed year”, with the company improving their fundamentals and investing in new growth initiatives.
 
 
 
 This is a watershed year for Logitech. We improved our financial fundamentals, delivering our highest gross margin in Company history while growing the business by 14%.
 
 
That, combined with our continued investment in growth initiatives, gives Logitech a strong and exciting platform for the future.
 

  

Logitech delivers their highest sales growth in 6 years

 

Below is some more detailed data on Logitech’s 2017 Fiscal year, which ended on March 31st, 2017;

 

  • – Retail sales grew 14 percent in constant currency, the highest annual retail sales growth in six years. Retail sales grew 13 percent in USD; also a six-year high.
  • – Sales were $2.21 billion, up 9 percent in USD compared to the prior year, which still included OEM sales, the business the Company exited in Q3 of the prior fiscal year.
  • – GAAP operating income grew 53 percent to $197 million – the highest in nine years – compared to $129 million a year ago. GAAP earnings per share (EPS) grew 51 percent to $1.16, compared to $0.77 a year ago.
  • – Non-GAAP operating income grew 33 percent to $238 million – also the highest in nine years – compared to $179 million a year ago. Non-GAAP EPS grew 35 percent to $1.32, compared to $0.98 a year ago.
  • – Cash flow from operations grew 52 percent to $279 million, the highest level in seven years.

 

Logitech now plans to offer of high single-digit retail sales growth in constant currency and $250 to $260 million in non-GAAP operating income in their 2018 financial year, showing a great deal of confidence for the company moving forward.

 

You can join the discussion on Logitech’s 2017 sales growth on the OC3D Forums. 

 

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