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Logitech International S.A. (LOGI-0.45%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $1,340,294,000 from $1,255,473,000 in the same quarter the previous year. The increase is attributed to higher sales in Gaming and Tablet Accessories.
Cost of goods sold for the quarter was $763,403,000, representing 57% of sales, compared to 58% in the same quarter of the previous year.
The company reported a gross profit of $574,441,000 for the quarter, up from $526,780,000 in the previous year, with the increase attributed to lower product costs.
Operating expenses increased to $339,885,000 from $304,705,000, primarily due to higher marketing and selling expenses.
Net income for the quarter was $200,147,000, down from $244,684,000 in the previous year. The decrease was primarily due to a higher income tax provision.
Cash provided by operating activities was $712,901,000, while cash used in investing and financing activities was $45,357,000 and $676,099,000, respectively.
Logitech had a working capital of $1,479,936,000 as of December 31, 2024. The company entered into a new unsecured revolving credit facility of $750 million.
The filing also details various financial agreements, including a new credit agreement with a syndicate of banks.
Logitech repurchased 5.3 million shares during the nine months ended December 31, 2024, under its 2023 share repurchase program.
The company does not anticipate any material impact from the implementation of Pillar Two laws related to the OECD's BEPS Project.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Logitech International S.A. quarterly 10-Q report dated January 29, 2025. To report an error, please email earnings@qz.com.