Innovation, value, and partnerships drive ongoing strong performance
The highlights for FY2019-Q1 (CY2018-Q2) are as follows:
- Q1 sales were $608 million, up 15% in US dollars and 12% in constant currency vs. FY2018-Q1.
- Gaming and Video Collaboration categories both grew more than 60% in Q1.
- Q1 GAAP operating income was $32 million, compared to $31 million in the same quarter a year ago. GAAP operating income was impacted by a $10 million restructuring charge related to the realignment of resources for growth. Non-GAAP operating income grew 41% to $61 million, compared to $43 million in the same quarter a year ago.
- The company agreed to acquire Blue Microphones (studio quality microphones) for approximately $117 million in cash.
- “We’ve delivered a great start to the year and are raising our guidance,” said Bracken Darrell, Logitech president and chief executive officer. “The diversity of our portfolio and strength of our innovation engine are working.”