Logitech International Sa (LOGI) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Logitech International
Ticker: LOGI CIK: 1032975

Exhibit 99.1

Editorial Contacts:

Ben Lu, Vice President, Investor Relations - USA (510) 713-5568

Krista Todd, Vice President, Communications - USA (510) 713-5834

Ben Starkie, Corporate Communications - Europe +41 (0) 79-292-3499

Logitech Delivers Record Q2 Sales and Double-Digit Profit Growth

LAUSANNE, Switzerland - Oct. 23, 2018 and NEWARK, Calif., Oct. 22, 2018

- Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the second quarter of Fiscal Year 2019.


•	Q2 sales were $691 million, up 9 percent in US dollars and 10 percent in constant currency, compared to Q2 of the prior year.


•	Q2 GAAP operating income reached $65 million, compared to $59 million in the same quarter a year ago. Q2 GAAP earnings per share (EPS) grew 15 percent to $0.38, compared to $0.33 in the same quarter a year ago.


•	Q2 non-GAAP operating income grew 18 percent to $85 million, compared to $71 million in the same quarter a year ago. Q2 non-GAAP EPS grew 26 percent to $0.49, compared to $0.39 in the same quarter a year ago.


•	Q2 cash flow from operations was $85 million, up 24 percent compared to Q2 of the prior year. Cash flow from operations for the fiscal year to date was $97 million, compared to $67 million for the same period a year ago.

“Q2 showcased the power and diversity of our portfolio,” said Bracken Darrell, Logitech president and chief executive officer. “We delivered our highest ever sales for a second quarter, with double-digit growth in both Gaming and Video Collaboration and solid growth in our PC Peripherals categories. Our innovation engine is on display as we move into the holiday quarter with a line-up of new, innovative products already well-received by consumers.”

Vincent Pilette, chief financial officer, said, “With healthy sales growth of 10 percent in constant currency, we delivered a strong gross margin, above our long-term target. Our constant and obsessive focus on operational efficiency allowed us to continue to invest for future growth while growing non-GAAP operating profit 18 percent and once again delivering strong leverage to the bottom line.”

Outlook

Logitech confirmed its Fiscal Year 2019 outlook of 9 to 11 percent sales growth in constant currency and $325 million to $335 million in non-GAAP operating income.

Prepared Remarks Available Online

The following information was filed by Logitech International (LOGI) on Tuesday, October 23, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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