Prior to a meeting to be held today with financial analysts and investors in Zurich, Logitech International (SIX:LOGN) (NASDAQ:LOGI) announced:
- Confirmation of its FY 2016 outlook of approximately $170 million in non-GAAP operating income and constant currency retail sales growth of 7 to 9 percent
- An outlook for FY 2017 of $185 million to $200 million in non-GAAP operating income and constant currency retail sales growth in the mid-single digits
- The continuation of its three-year plan for returning up to $500 million in cash to shareholders
- At the meeting, Logitech will outline the foundation that will deliver the Company's future success. It will also demonstrate the Company's consistent ability to grow, generate cash and build a diversified, market-leading portfolio of growing product categories.
"Logitech is poised for growth," said Bracken Darrell, Logitech president and chief executive officer. "Over the past three years, we have revitalized our ability to grow. We have diversified our portfolio and grown market share to lead almost every category in which we play. We have also demonstrated rigorous cost management that has enabled us to invest more into great new products. We now have a foundation for a successful FY 2017, as we work toward our long-term objective of high single-digit growth and strong profitability.
"Going forward, we will build on this foundation for success with powerful design, revitalized product creation in existing and new categories, a winning global team and outstanding execution. We already participate in big and growing markets including Gaming, Home, Music, Video Collaboration and Productivity & Creativity. Each of these markets is large and offers interesting adjacent categories we could enter in the future. In the long run we have no shortage of growth options."
The Company's Analyst and Investor Day will be held today at 9:00 a.m. Central European Time. A live webcast and replay of the meeting will be available on the Logitech corporate Web site at http://ir.logitech.com.
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