Logitech Posts Q2 Results

(Auszug aus der Pressemitteilung)

FREMONT, Calif., Oct. 20, 2008 and ROMANEL-SUR-MORGES, Switzerland, Oct. 21, 2008 – Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced

financial results for the second quarter of Fiscal Year 2009. Sales for Q2 were
a record $665 million, up 12 percent from $595 million in the same quarter last year. Operating
income was $80 million, essentially unchanged from the same quarter a year
ago. Net income was $72 million ($0.39 per share) compared to Q2 FY 2008 net income
of $12 million ($0.06 per share), which included an impairment loss of $67.4 million
($0.36 per share) on the value of short-term investments. Gross margin for the second
quarter was 34.3 percent compared to 36.3 percent in Q2 FY 2008.

Logitech’s retail sales for Q2 grew by 5 percent year over year, increasing by 35 percent
in Asia and 8 percent in EMEA and decreasing by 11 percent in the Americas. Harmony®
remotes (up 17%) and pointing devices (up 16%) were the best-performing categories in
retail and video sales grew for the third consecutive quarter (up 9%). OEM sales grew by
56 percent, reflecting exceptionally strong demand for microphones for console gaming.

“We are pleased to deliver double-digit revenue growth in what has become an increasingly
challenging environment,” said Gerald P. Quindlen, Logitech president and chief
executive officer. “The strong growth in Asia and OEM, as well as in pointing devices
and Harmony remotes, underscores the resilience of our geographic and category diversification.
The decline in our gross margin was primarily due to the combination of higher
input costs and the mix between retail and OEM sales.

“Given the pervasive economic uncertainty, both in North America and Europe, we are
tempering our outlook for growth for Fiscal 2009. We remain bullish on the opportunities
across all our product categories and we believe we are well positioned to return to annual
growth in the mid-teens when conditions improve.”

For Fiscal Year 2009, ending March 31, 2009 the Company now expects growth of 6-8
percent in sales and 3-5 percent in operating income, revised from the original target of
15 percent growth for both. The Company continues to expect FY 2009 gross margin to
be above its long-term target range of 32-34 percent. Logitech expects its effective tax
rate for the year to be approximately 12 percent.