Logitech Delivers Tenth Consecutive Record Year with Strongest Q4 Ever

(Auszug aus der Pressemitteilung)

FREMONT, Calif., April 21, 2008 and ROMANEL-SUR-MORGES, Switzerland, April 22, 2008 – Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced record Q4 sales and profits, delivering its tenth consecutive year of double-digit revenue growth and reaching its full year revenue and profitability goals.

For the fourth quarter of Fiscal Year 2008, ended March 31, 2008, sales were $601 mil-lion, up 17 percent from $513 million in the same quarter
last year. Operating income was $66.1 million, up 20 percent from $55.3 million for the same quarter a year ago. Net income was $60.3 million ($0.32 per share), up from $56.2 million ($0.29 per share) in the prior year. Gross margin was 35.6 percent, compared to 34.5 percent in Q4 of FY
2007.

Logitech’s retail sales for Q4 grew by 15 percent year over year, increasing by 13 percent in EMEA, 8 percent in the Americas, and 58 percent in Asia Pacific. Across Logi-tech sales regions, retail growth was fueled by strong sales of cordless mice (up 58 percent) and speakers (up 24 percent). Retail video sales grew by 9 percent. OEM sales grew by 34 percent, driven primarily by strong demand for microphones for console gaming.

For the full fiscal year, sales were $2.4 billion, up 15 percent from $2.1 billion in FY 2007. Operating income was $287 million, up 24 percent from $231 million a year ago. Net income was $231 million ($1.23 per share) compared to $230 million ($1.20 per share) in the prior year. Gross margin
for the fiscal year was 35.8 percent, compared to 34.3 percent in FY 2007.

“We are very pleased with our Q4 performance, including our return to growth in the video category,” said Gerald P. Quindlen, Logitech president and chief executive officer. “Our revenue growth of 17 percent underscores the strength of our product portfolio and our geographic diversity, both key factors in our ability to deliver consistent growth over the last
decade. The strong momentum we carry into the new fiscal year, combined with a solid balance sheet, position us to continue delivering double-digit
growth in sales and profitability.”

Outlook
For Fiscal Year 2009, ending March 31, 2009, the Company confirmed its financial targets of 15 percent growth in both sales and operating income.
FY 2009 gross margin is expected to be above the high end of the Company’s long-term target range of 32-34 percent. The Company’s tax rate for the
year is expected to be approximately 12 percent.