Logitech

Logitech International SA (LOGI)  announced a beat on both the top and bottom lines for the third quarter and raised guidance for the current fiscal year.

The maker of personal computer and mobile peripherals known for its computer mice said third-quarter sales came in at $864 million, up 6% in U.S. dollars and 8% in constant currency, from the same period in the prior year. That's above Zacks consensus estimate of $863 million.

Non-GAAP earnings per share grew 22% to 79 cents vs. 65 cents in the same period the previous year, surpassing Zacks consensus estimate of 67 cents. GAAP EPS grew 40% to 67 cents, compared to 48 cents the same quarter last year. GAAP operating income reached $123 million vs. $100 million in the same quarter the previous year. 

"We delivered record sales and profits in our biggest quarter of the year," Bracken Darrell, Logitech president and CEO, said in a statement. "Our innovative, diverse portfolio drove double-digit growth across Gaming, Video Collaboration, and Creativity & Productivity. On the back of this powerful performance, we are raising our profit outlook for the year."

Logitech raised its profit outlook for fiscal year 2019 to between $340 million and $345 million in non-GAAP operating income, from a previous $325 million to $335 million, with an annual sales outlook of 9% to 11% growth in constant currency.

Year-to-date cash flow from operations was $273 million, compared to $256 million in the same period a year ago.

Logitech stock closed up 0.78% at $33.70