Logitech International (SIX: LOGN) (NASDAQ: LOGI) has reported its financial results for the second quarter of fiscal year 2025, and the numbers are looking strong. Sales were $1.12 billion, up 6% in US dollars and 6% in constant currency compared to the same period in the prior year. GAAP gross margin saw an increase of 210 basis points to 43.6%, while non-GAAP gross margin increased by the same margin to 44.1%.
In terms of operating income, the company saw a 3% increase in GAAP operating income to $161 million compared to the same period the previous year. Non-GAAP operating income also saw a 5% increase to $193 million year-over-year. GAAP earnings per share (EPS) was reported at $0.95, up 10% from the previous year, while non-GAAP EPS was $1.20, also up 10% from the same period in the prior year.
The company reported cash flow from operations at $166 million, with a quarter-ending cash balance of approximately $1.4 billion. Logitech returned $340 million of cash to shareholders through its annual dividend payment and share repurchases.
With these positive results, Logitech has raised its full-year outlook for fiscal year 2025. The previous sales outlook of $4.34 * $4.43 billion has been revised to $4.39 * $4.47 billion, representing a 2% * 4% sales growth in US dollars year over year. Similarly, the non-GAAP operating income outlook has been adjusted from $700 * $730 million to $720 * $750 million, indicating a 3% * 7% growth year over year.
Hanneke Faber, Logitech's Chief Executive Officer, expressed satisfaction with the company's performance, attributing it to robust, profitable growth driven by improving demand. Matteo Anversa, Logitech's Chief Financial Officer, commended the teams for their disciplined execution and expressed confidence in the company's overall business momentum.
The company's financial results videoconference to discuss the results for Q2 fiscal year 2025 is scheduled for October 22, 2024. Logitech intends to use its investor relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under regulation FD.
Logitech International, founded in 1981, is a Swiss public company listed on the Six Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). The company designs software-enabled hardware solutions that aim to help businesses thrive and bring people together when working, creating, gaming, and streaming. Following these announcements, the company's shares moved -9.3%, and are now trading at a price of $83.26. Check out the company's full 8-K submission here.
