(Auszug aus der Pressemitteilung)
FREMONT, Calif., July 22, 2009 and ROMANEL-SUR-MORGES, Switzerland, July 23, 2009 – Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial
Sales for Q1 were $328 million, a decrease of 36 percent compared to $509 million in the
same quarter last year. Excluding the unfavorable impact of exchange rate changes, sales
decreased by 33 percent.
The Company posted an operating loss of $33 million, compared to operating income of $30
million in the same quarter a year ago. The net loss for Q1 was $36 million ($0.20 per share)
compared to net income of $29 million ($0.16 per share) in Q1 FY 2009. During the quarter,
Logitech recorded pre-tax restructuring charges of $1.4 million ($1.1 million after tax or $0.01
per share). Gross margin for Q1 was 24.4 percent compared to 34.1 percent in Q1 FY 2009.
Logitech’s retail sales for Q1 FY 2010 declined by 35 percent year over year, with sales
down by 39 percent in EMEA, 37 percent in the Americas, and 22 percent in Asia. OEM
sales were down by 39 percent.
“Our results were consistent with the outlook we shared at the start of the quarter,” stated
Gerald P. Quindlen, Logitech president and chief executive officer, “with slightly higher sales
and a lower operating loss than anticipated. During Q1, we made substantial progress in
helping our channel partners reset to their new, lower levels of weeks of supply. While there
is still more progress to be made, we continue to expect this reset to be completed by the
end of the second quarter, which will benefit both our sales and our profitability in the second
half of the fiscal year. We ended Q1 with a cash balance of $567 million, an increase of
more than $80 million over the same period last year – due to our sustained focus on working
“We expect a return to profitability in Q2 as well as a return to earnings growth for the second
half of FY 2010, due to the combined impact of the conclusion of our channel partners’
reset, our ongoing cost-reduction measures and the introductions during Q2 of most of our
new products for the FY 2010 holiday season. Designed for today’s more discerning consumers,
our new lineup of products is expected to stimulate demand and reduce promotional
pressures during the second half of the fiscal year.”
For the second quarter of FY 2010, Logitech expects sales within the range of $465 million
to $485 million, gross margin within the range of 27 percent to 29 percent, and operating income
of up to $10 million.