Logitech Announces Best Quarter Ever

(Auszug aus der Pressemitteilung)

FREMONT, Calif., Jan. 16, 2008 and ROMANEL-SUR-MORGES, Switzerland, Jan. 17, 2008 – Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced

re-cord sales and operating profit for the third quarter of Fiscal Year
2008, ended Dec. 31, 2007. Sales were $744 million, up 13 percent from $659
million in the same quarter last year. Operating income was $116 million, up
17 percent from $100 million for the same quarter a year ago. Net income was
$134 million ($0.71 per share), up from $94 million ($0.49 per share) one
year ago. Gross margin reached an all-time high for the company at 36.9
percent, compared to 36.2 percent in Q3 of FY 2007. Cash flow from
operations was $177 million, the highest ever for a quarter.

Logitech’s retail sales for Q3 grew by 9 percent year over year, increasing
by 9 percent in the Americas, 4 percent in EMEA and 44 percent in Asia
Pacific. The growth in the Americas and EMEA was restrained by continued
weakness in the webcam category. Retail sales in all regions were driven by
strong demand for Harmony remote controls, keyboards and mice. Sales of
Harmony remote controls increased by 72 percent, with strong growth in all
regions. Keyboard sales increased by 32 percent and mice sales in-creased by
22 percent. OEM sales grew by 54 percent, driven by strong demand for
mi-crophones for console singing games.

“We are very pleased with our Q3 performance,” said Gerald. P. Quindlen,
Logitech president and chief executive officer. “We delivered record sales
and our best gross margin ever, despite a highly promotional retail
environment, and we continued to im-prove the effectiveness of our working
capital management as we finished Q3 with half a billion dollars in cash.
The strong momentum in core categories such as keyboards and mice
exemplifies how leadership in innovation stimulates continued demand and
sup-ports improved margins. And the robust sales of Harmony remotes
underscores the promise of our increasing attention on the digital home. The
progress we have made in realigning our operating expense growth and gross
profit growth positions us to exceed our FY 2008 goal for operating income
growth.”

Outlook
For the current fiscal year, ending March 31, 2008, the company confirmed
its sales tar-get of 15 percent growth and increased its year-over-year
operating income growth goal to more than 20 percent. The Company’s
previously stated goal for operating income growth was 20 percent. FY 2008
gross margin is expected to be above the high end of the Company’s long-term
target range of 32-34 percent.

The Company also provided preliminary financial targets of 15 percent growth
in both sales and operating income for Fiscal Year 2009, ending March 31,
2009.