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.
Recommended for You
Latest News Posts
- SK Hynix announces GDDR6, offers up to 14Gbps of bandwidth
- Nintendo shows off most downloaded eShop games
- Battlefield 1: Apocalypse DLC details aerial dogfights
- Nintendo Switch sells 1.5 million units last month
- Epic Games doubts the success of their own MOBA Paragon
- LGA1151 Extreme 4 post issue
- NVIDIA's next-gen TITAN X should rock 16GB GDDR6 at 14Gbps
- SuperData Analyst Interview on Call of Duty: WWII Success
- GIGABYTE Z370XP SLI (Intel Z370) Motherboard Review
- The GIGABYTE Z370N WIFI (Intel Z370) Motherboard Review
- Toshiba Memory America Unveils UFS Devices Utilizing 64-Layer, 3D Flash Memory
- ASUS Announces GeForce GTX 1070 Ti Series Gaming Graphics Cards
- ASUS Announces ASUS Hangouts Meet Hardware Kit
- Colorful Announces iGame GeForce GTX 1070 Ti Vulcan X Top
- Gainward Announces its GeForce GTX 1070 Ti Series