Interesting Stocks To Watch - July 23 (LOGI, BRO)

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Logitech International S.A. (LOGI) confirmed its fiscal 2010 outlook, while reporting better-than-expected Q1 results.

Outlook

Logitech confirmed its fiscal 2020 outlook of mid to high single-digit sales growth in constant currency and $375 million - $385 million in non-GAAP operating income.

Q1 Results

The company's first-quarter GAAP net income was $45.3 million or $0.27 per share compared to $38.5 million or $0.23 per share last year.

On a non-GAAP basis, net income rose to $65.6 million or $0.39 per share from $57.4 million or $0.34 per share in the prior year period.

On average, 7 analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts' estimate typically exclude certain special items.

Net sales for the quarter totaled $644.2 million, higher than the previous year's sales of $608.5 million. Six Wall Street analysts had a consensus revenue estimate of $632.33 million.

Bracken Darrell, Logitech president and chief executive officer, said:

"Our portfolio of innovative products continues to deliver. We achieved double-digit growth across a number of categories, including Video Collaboration, and growth in all three regions. I'm excited about our business and the innovation ahead of us."

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Brown & Brown Inc. (BRO) reported upbeat results for the second quarter, led by recent acquisitions, improved organic growth and margin expansion.

Second-quarter net income was $92.6 million or $0.33 per share versus $73.9 million or $0.26 per share in the prior year period.

Adjusted earnings for the quarter rose to $0.32, or 23.1%, compared to the second quarter of previous year.

Analysts polled by Thomson Reuters expected earnings of $0.28 per share for the quarter. Analysts' estimate typically exclude certain special items.

Total revenues increased to $575.2 million from $473.1 million generated a year ago.