Logitech Announces Third Quarter Financial Results for FY 2011

Company Delivers Record Revenue, Increases Full-Year Sales Outlook

(Auszug aus der Pressemitteilung)

FREMONT, Calif., Jan. 26, 2011 and MORGES, Switzerland, Jan. 27, 2011 – Logitech

International today announced financial results for the third quarter of Fiscal Year 2011.
Sales for Q3 FY 2011 were $754 million, up 22 percent from $617 million in the same quarter
last year. Excluding the unfavorable impact of exchange rate changes, sales increased by 26
percent. Operating income was $76 million, an increase of 30 percent compared to $58 mil-lion in the same quarter a year ago. Net income for Q3 was $65 million ($0.36 per share) compared to $57 million ($0.32 per share) in Q3 of FY 2010. Gross margin for Q3 FY 2011 was 36.0 percent, up from 33.9 percent one year ago.
Logitech’s retail sales for Q3 FY 2011 grew by 17 percent year over year, with an increase in
Asia of 51 percent, an increase in the Americas of 31 percent, and a decrease in EMEA of 1
percent. OEM sales increased by 18 percent. The LifeSize division contributed 5 percentage
points to the Company’s Q3 FY 2011 sales growth compared to the prior year.
“We are very pleased with our Q3 performance, which included our highest-ever quarterly sales and strong year-over-year growth in both sales and operating income,” said Gerald P. Quindlen, Logitech president and chief executive officer. “All of our retail product categories contributed to our sales growth, with double-digit increases in remote controls, pointing de-vices, video and gaming. OEM sales made a very solid contribution, and the momentum con-tinued for our LifeSize division, which delivered the highest-ever quarterly sales in its history.
“A highlight of the quarter was the launch of Logitech Revue with Google TV and related pe-ripherals. We are confident about the long-term potential of the Google TV platform and look forward to continued enhancements around the platform as we work with Google to push pe-riodic over-the-air software updates.”

For Fiscal Year 2011, ending March 31, 2011, Logitech has increased its sales outlook from the previous range of $2.35 to $2.4 billion to the new range of $2.4 to $2.42 billion. The tar-get for operating income for the full year remains in the range of $170 to $180 million. Ex-pected gross margin continues to be approximately 36 percent. The expected tax rate has been lowered to approximately 14 percent.