Logitech International, based in Switzerland, has announced preliminary unaudited and unreviewed financial results for the second quarter of Fiscal Year 2015, showing Q2 sales were $530m, essentially flat compared to the prior year, with retail sales up 2%.
Q2 non-GAAP operating income was $59m, up from the same time last year. Q2 cash flow from operations was approximately $33 million, doubling year-over-year and the highest Q2 in the last five years.
"Our performance in Q2 shows continued progress toward our full-year objectives, with growth in retail sales, better-than-expected profitability and improved cash generation," said Bracken P. Darrell, Logitech president and chief executive officer.
"Sales in our Growth category PC Gaming, Mobile Speakers and Tablet and Other Accessories grew by double digits for the sixth quarter in a row, increasing 27% year-over-year in Q2. It was our sixth consecutive quarter in which Mobile Speakers sales more than doubled.
"We've entered the second half of the year with a robust product portfolio and a pipeline of compelling new products set to launch in the coming quarters. This is our strategy of delivering fewer and bigger products in action."
Logitech confirmed its outlook for fiscal Year 2015 of approximately $2.16bn in sales, assuming relatively stable currency exchange rates, and approximately $170m in non-GAAP operating income.