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Logitech-Press related Technical Updates [Page: 41 of 49] @ TACKtech Corp. |
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FREMONT, Calif., April. 27, 2011 and MORGES, Switzerland, April. 28, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full year of Fiscal Year 2011.
Sales for Q4 FY 2011 were $548 million, up 4 percent from $525 million in the same quarter last year. Excluding the favorable impact of exchange rate changes, sales increased by 3 percent. Operating income was $3.6 million, a decrease of 87 percent compared to $27.7 million in the same quarter a year ago. Net income for Q4 was $2.8 million ($0.02 per share) compared to $24.5 million ($0.14 per share) in Q4 of FY 2010. Gross margin for Q4 FY 2011 was 32.8 percent, down from 35.8 percent one year ago.
Logitech’s retail sales for Q4 FY 2011 grew by 2 percent year over year, with an increase in Asia of 32 percent, an increase in the Americas of 11 percent, and a decrease in EMEA of 17 percent. OEM sales decreased by 10 percent. Sales for the LifeSize division grew 88 percent, reaching a record high for a quarter.
For the full fiscal year, sales were $2.36 billion, up 20 percent from $1.97 billion in FY 2010. Operating income was $142.7 million, up 82 percent from $78.4 million a year ago. Gross margin for FY 2011 was 35.4 percent compared to 31.9 percent in FY 2010.
“FY 2011 was a strong year for the company, with sales growth of 20 percent and operating income nearly doubling, driven by our LifeSize division and our Americas and Asia retail regions,” said Gerald P. Quindlen, Logitech president and chief executive officer. “The disappointing conclusion to FY 2011 – which resulted in lower-than expected full-year sales, operating income and gross margin – was due to weaker than anticipated demand in the second half of Q4 for our products in EMEA. The weakness in demand in EMEA was compounded by poor execution of channel pricing and promotional programs within the region, which we have begun to remedy.”
Outlook
For Fiscal Year 2012, ending March 31, 2012, Logitech expects sales of approximately $2.6 billion, operating income of approximately $185 million and gross margin of approximately 35 percent. The tax rate is expected to be approximately 15 percent.
Prepared Remarks Available Online
Logitech has made its prepared written remarks for the results teleconference available online on the Logitech corporate Web site at http://ir.logitech.com. The remarks are posted in the Calendar section on the Investor home page.
Results Teleconference and Webcast
Logitech will hold a results teleconference on Thursday, April 28, 2011 at 8:30 a.m. Eastern Daylight Time and 14:30 Central European Summer Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
# # #
This press release contains forward-looking statements, including the statements regarding anticipated sales, operating income, gross margin and tax rate for FY 2012. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include: the demand of our customers and our consumers for our products and our ability to accurately forecast it; if our decisions to prioritize investments in our LifeSize division, in growing our sales and marketing in China and other high potential emerging markets, in peripherals for tablets, and in our other investment priorities, do not result in the sales or profitability growth we expect, or when we expect it; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; the sales mix among our lower- and higher-margin products and our geographic sales mix; if our product introductions and marketing activities do not result in the sales and profitability growth we expect, or when we expect it; if we fail to take advantage of trends in the consumer electronics and personal computers industries, including the growth of mobile computing devices such as smartphones and tablets with touch interfaces, or if significant demand for peripherals to use with tablets and other mobile devices with touch interfaces does not develop; if there is a deterioration of business and economic conditions or significant fluctuations in currency exchange rates; competition in the video conferencing and communications industry, including from companies with significantly greater resources, sales and marketing organizations, installed base and name recognition; as well as those additional factors set forth in Logitech’s periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2010, and our Quarterly Report on Form 10-Q for the quarters ended June 30, 2010, September 30, 2010 and December 31, 2010 available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
(LOGI – IR)
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Full View / NID: 37824 / Submitted by: The Zilla of Zuron
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FREMONT, Calif. — April 13, 2011 — To help you keep tabs on your home or office anytime, anywhere, Logitech® (SWX: LOGN) (NASDAQ: LOGI) today introduced the Logitech Alert™ app for iPad®. One of a family of apps Logitech is developing for the iPad, Logitech’s newest app makes it easy for you to access your Logitech Alert™ digital video security system from any place you take your favorite tablet. The Logitech Alert app for iPad providing free, live monitoring is expected to be available in the U.S., Europe and Asia in the Apple App Store at no charge beginning in April. The Logitech Alert Web and Mobile Commander service enables additional functionality on the iPad, Web browsers and mobile apps and is available at a suggested retail price of U.S. $79.99 per year.
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Full View / NID: 37684 / Submitted by: The Zilla of Zuron
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Logitech — April 7, 2011 — Today, Logitech (SIX: LOGN) (NASDAQ: LOGI) unveiled the Logitech® Keyboard Case, delivering type-and-go convenience for your iPad®. Smart and sleek, Logitech’s first offering designed especially for tablets provides an extra measure of convenience and style, wherever you take your iPad 2. The Logitech Keyboard Case is expected to be available in the U.S. in April 2011 for a suggested retail price of $99.99 (U.S.). Visit www.logitech.com for more information.
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Full View / NID: 37554 / Submitted by: The Zilla of Zuron
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FREMONT, Calif. and MORGES, Switzerland, March 31, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it has lowered its full-year outlook for Fiscal Year 2011, ending March 31, 2011. The company now expects FY 2011 sales in the range of $2.35 to $2.37 billion, down from the previous range of $2.4 to $2.42 billion. FY 2011 operating income is now expected to be in the range of $140 to $150 million, down from the previous range of $170 to $180 million.
The projected shortfalls in both sales and profitability are primarily due to weakness in the company’s EMEA retail sales region. Logitech has experienced lower than expected demand for its retail products in EMEA from both distribution partners and consumers.
Earnings Teleconference and Webcast
Logitech plans to announce financial results for Fiscal Year 2011 on April 27, 2011 at 10:00 p.m. Eastern Daylight Time and Thursday, April 28, 2011 at 04:00 Central European Summer Time. The company will hold an earnings teleconference on Thursday, April 28, 2011 at 8:30 a.m. Eastern Daylight Time and 14:30 Central European Summer Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
# # #
This press release contains forward-looking statements, including the statements regarding the expected sales and operating income ranges for FY 2011. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include: the review of the fourth quarter and full fiscal year results and quarter- and year-end accounting procedures; the sales mix among our lower- and higher-margin products and our geographic sales mix; as well as those additional factors set forth in our periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2010 and our Quarterly Reports on Form 10-Q for the quarters ended June 30, 2010, September 30, 2010 and December 31, 2010, available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
(LOGI – IR)
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Full View / NID: 37478 / Submitted by: The Zilla of Zuron
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Logitech — March 9, 2011 — Today, Logitech unveiled the Logitech® Surround Sound Speakers Z906. Delivering 500 watts (RMS) of power, the Logitech Surround Sound Speakers Z906 are THX® Certified, creating a theater-quality audio experience in your living room. The Logitech Surround Sound Speakers Z906 are expected to be available in the U.S. and Europe in March 2011 for a suggested retail price of $349.99 (U.S.). Visit www.logitech.com for more information.
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Full View / NID: 37242 / Submitted by: The Zilla of Zuron
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Logitech — March 9, 2011 — Today, Logitech unveiled the Logitech® Surround Sound Speakers Z906. Delivering 500 watts (RMS) of power, the Logitech Surround Sound Speakers Z906 are THX® Certified, creating a theater-quality audio experience in your living room. The Logitech Surround Sound Speakers Z906 are expected to be available in the U.S. and Europe in March 2011 for a suggested retail price of $349.99 (U.S.). Visit www.logitech.com for more information.
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Full View / NID: 37226 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Feb. 22, 2011 and MORGES, Switzerland, Feb. 23, 2011 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced that Erik K. Bardman, Logitech senior vice president, finance and chief financial officer, will present at the Morgan Stanley Technology, Media and Telecom Conference 2011 in San Francisco on Feb. 28, 2011 at 4:30 p.m. Pacific Standard Time/7:30 p.m. Eastern Standard Time. A live webcast and replay will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
# # #
Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
(LOGI - IR)
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Full View / NID: 37041 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Feb. 3, 2011 and MORGES, Switzerland, Feb. 4, 2011 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced that Erik K. Bardman, Logitech senior vice president, finance and chief financial officer, will present at the Stifel Nicolaus Technology and Telecom Conference 2011 in San Francisco on Feb. 10, 2011 at 9:45 a.m. Pacific Standard Time/12:45 p.m. Eastern Standard Time. A live webcast and replay will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
# # #
Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
(LOGI - IR)
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Full View / NID: 36787 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Jan. 26, 2011 and MORGES, Switzerland, Jan. 27, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) 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 million 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 devices, video and gaming. OEM sales made a very solid contribution, and the momentum continued 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 peripherals. 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 periodic over-the-air software updates.”
Outlook
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 target for operating income for the full year remains in the range of $170 to $180 million. Expected gross margin continues to be approximately 36 percent. The expected tax rate has been lowered to approximately 14 percent.
Earnings Teleconference and Webcast
Logitech will hold an earnings teleconference on Thursday, Jan. 27, 2011 at 8:30 a.m. Eastern Standard Time and 14:30 Central European Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
# # #
This press release contains forward-looking statements, including the statements regarding anticipated sales, operating income, gross margin and tax rate for FY 2011, and the long-term potential and enhancements for the Google TV platform. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include: the demand of our customers and our consumers for our products and our ability to accurately forecast it; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if consumer reaction to and demand for the Google TV platform and our products for it are less positive than we expect, or if Google fails to support or continue the Google TV platform; the sales mix among our lower- and higher-margin products and our geographic sales mix; if our product introductions and marketing activities do not result in the sales and profitability growth we expect, or when we expect it; if we fail to take advantage of trends in the consumer electronics and personal computers industries, including the growth of mobile computing devices such as smartphones and tablets, or if significant consumer demand for peripherals to use with tablets and other mobile devices does not develop; if there is a deterioration of business and economic conditions or significant fluctuations in currency exchange rates; competition in the video conferencing and communications industry, including from companies with significantly greater resources, sales and marketing organizations, installed base and name recognition; as well as those additional factors set forth in Logitech's periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2010, and our Quarterly Report on Form 10-Q for the quarters ended June 30, 2010 and September 30, 2010, available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
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Full View / NID: 36622 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Jan. 26, 2011 and MORGES, Switzerland, Jan. 27, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) 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 million 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 devices, video and gaming. OEM sales made a very solid contribution, and the momentum continued 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 peripherals. 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 periodic over-the-air software updates.”
Outlook
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 target for operating income for the full year remains in the range of $170 to $180 million. Expected gross margin continues to be approximately 36 percent. The expected tax rate has been lowered to approximately 14 percent.
Earnings Teleconference and Webcast
Logitech will hold an earnings teleconference on Thursday, Jan. 27, 2011 at 8:30 a.m. Eastern Standard Time and 14:30 Central European Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
# # #
This press release contains forward-looking statements, including the statements regarding anticipated sales, operating income, gross margin and tax rate for FY 2011, and the long-term potential and enhancements for the Google TV platform. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include: the demand of our customers and our consumers for our products and our ability to accurately forecast it; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if consumer reaction to and demand for the Google TV platform and our products for it are less positive than we expect, or if Google fails to support or continue the Google TV platform; the sales mix among our lower- and higher-margin products and our geographic sales mix; if our product introductions and marketing activities do not result in the sales and profitability growth we expect, or when we expect it; if we fail to take advantage of trends in the consumer electronics and personal computers industries, including the growth of mobile computing devices such as smartphones and tablets, or if significant consumer demand for peripherals to use with tablets and other mobile devices does not develop; if there is a deterioration of business and economic conditions or significant fluctuations in currency exchange rates; competition in the video conferencing and communications industry, including from companies with significantly greater resources, sales and marketing organizations, installed base and name recognition; as well as those additional factors set forth in Logitech's periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2010, and our Quarterly Report on Form 10-Q for the quarters ended June 30, 2010 and September 30, 2010, available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
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Full View / NID: 36618 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Jan. 26, 2011 and MORGES, Switzerland, Jan. 27, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) 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 million 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 devices, video and gaming. OEM sales made a very solid contribution, and the momentum continued 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 peripherals. 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 periodic over-the-air software updates.”
Outlook
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 target for operating income for the full year remains in the range of $170 to $180 million. Expected gross margin continues to be approximately 36 percent. The expected tax rate has been lowered to approximately 14 percent.
Earnings Teleconference and Webcast
Logitech will hold an earnings teleconference on Thursday, Jan. 27, 2011 at 8:30 a.m. Eastern Standard Time and 14:30 Central European Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
# # #
This press release contains forward-looking statements, including the statements regarding anticipated sales, operating income, gross margin and tax rate for FY 2011, and the long-term potential and enhancements for the Google TV platform. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include: the demand of our customers and our consumers for our products and our ability to accurately forecast it; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if consumer reaction to and demand for the Google TV platform and our products for it are less positive than we expect, or if Google fails to support or continue the Google TV platform; the sales mix among our lower- and higher-margin products and our geographic sales mix; if our product introductions and marketing activities do not result in the sales and profitability growth we expect, or when we expect it; if we fail to take advantage of trends in the consumer electronics and personal computers industries, including the growth of mobile computing devices such as smartphones and tablets, or if significant consumer demand for peripherals to use with tablets and other mobile devices does not develop; if there is a deterioration of business and economic conditions or significant fluctuations in currency exchange rates; competition in the video conferencing and communications industry, including from companies with significantly greater resources, sales and marketing organizations, installed base and name recognition; as well as those additional factors set forth in Logitech's periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2010, and our Quarterly Report on Form 10-Q for the quarters ended June 30, 2010 and September 30, 2010, available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
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Full View / NID: 36614 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Jan. 26, 2011 and MORGES, Switzerland, Jan. 27, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) 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 million 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 devices, video and gaming. OEM sales made a very solid contribution, and the momentum continued 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 peripherals. 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 periodic over-the-air software updates.”
Outlook
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 target for operating income for the full year remains in the range of $170 to $180 million. Expected gross margin continues to be approximately 36 percent. The expected tax rate has been lowered to approximately 14 percent.
Earnings Teleconference and Webcast
Logitech will hold an earnings teleconference on Thursday, Jan. 27, 2011 at 8:30 a.m. Eastern Standard Time and 14:30 Central European Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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This press release contains forward-looking statements, including the statements regarding anticipated sales, operating income, gross margin and tax rate for FY 2011, and the long-term potential and enhancements for the Google TV platform. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include: the demand of our customers and our consumers for our products and our ability to accurately forecast it; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if consumer reaction to and demand for the Google TV platform and our products for it are less positive than we expect, or if Google fails to support or continue the Google TV platform; the sales mix among our lower- and higher-margin products and our geographic sales mix; if our product introductions and marketing activities do not result in the sales and profitability growth we expect, or when we expect it; if we fail to take advantage of trends in the consumer electronics and personal computers industries, including the growth of mobile computing devices such as smartphones and tablets, or if significant consumer demand for peripherals to use with tablets and other mobile devices does not develop; if there is a deterioration of business and economic conditions or significant fluctuations in currency exchange rates; competition in the video conferencing and communications industry, including from companies with significantly greater resources, sales and marketing organizations, installed base and name recognition; as well as those additional factors set forth in Logitech's periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2010, and our Quarterly Report on Form 10-Q for the quarters ended June 30, 2010 and September 30, 2010, available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
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Full View / NID: 36459 / Submitted by: The Zilla of Zuron
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Las Vegas — CES — Jan. 5, 2011 – To turn your favorite speakers into a wireless sound system, today Logitech (SIX: LOGN) (NASDAQ: LOGI) introduced the Logitech® Wireless Speaker Adapter for Intel® WiDi-enabled laptops. Now built into a wide range of current laptops from the major manufacturers, Intel Wireless Display (or WiDi) lets you quickly connect your laptop audio to your existing stereo speakers via Wi-Fi. The Logitech Wireless Speaker Adapter for Intel WiDi-enabled laptops is expected to be available in the U.S. and Europe in May for a suggested retail price of $29.99 (U.S.).
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Full View / NID: 36220 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Dec. 28, 2010 and MORGES, Switzerland, Dec. 29, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it will release quarterly financial results on Wednesday, Jan. 26, 2011 at 10 p.m. Eastern Standard Time and Thursday, Jan. 27, 2011 at 04:00 Central European Time.
There will be a teleconference to discuss these results on Thursday, Jan. 27, 2011 at 8:30 a.m. Eastern Standard Time and 14:30 Central European Time. A live webcast of the call, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech's combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s Web site at www.logitech.com.
(LOGI – IR)
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Full View / NID: 36127 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Dec. 1, 2010 and MORGES, Switzerland, Dec. 2, 2010 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced that Gerald P. Quindlen, president and chief executive officer, will present at the NASDAQ OMX 25th Investor Program in London on Dec. 8, 2010 at 10:45 Greenwich Mean Time/11:45 Central European Time/5:00 a.m. Eastern Standard Time. A live webcast, along with presentation slides, will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
(LOGI - IR)
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Full View / NID: 35850 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Nov. 23, 2010 and MORGES, Switzerland, Nov. 24, 2010 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced that Erik K. Bardman, senior vice president, finance and chief financial officer, will present at the Credit Suisse 2010 Annual Technology Conference in Scottsdale, Arizona on Dec. 2, 2010 at 10:00 a.m. Mountain Standard Time/Noon Eastern Standard Time/18:00 Central European Time. A live webcast and replay will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
(LOGI - IR)
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Full View / NID: 35769 / Submitted by: The Zilla of Zuron
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Logitech – Nov. 23, 2010 – Today, seven Logitech products received the prestigious CES Innovations Award for excellence in design and engineering. The award-winning products include the Logitech® Wireless Solar Keyboard K750, Logitech® HD Webcam C910, Logitech® TV Cam, Logitech® Keyboard Controller for Google TV™, Logitech® Wireless Gaming Mouse G700, Logitech® Wireless Headset F540 and the Logitech® Wireless Headset G930.
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Full View / NID: 35757 / Submitted by: The Zilla of Zuron
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FREMONT, Calif.—Nov. 17, 2010—Today Logitech (SIX: LOGN) (NASDAQ: LOGI) introduced a variety of unified communications (UC) solutions to help businesses make the most out of their UC investments. With new Logitech for Business HD webcams and headsets optimized for Microsoft® Lync™ 2010, along with a portfolio of enterprise video conferencing products from its LifeSize division, Logitech is offering a broad range of video communications solutions to businesses - from an employee’s desktop to the conference room.
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Full View / NID: 35669 / Submitted by: The Zilla of Zuron
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FREMONT, Calif. — Nov. 10, 2010 — The benefits of being ‘plugged in’ at all times is starting to burn out some laptop users, literally. According to a study by Wakefield Research for Logitech (SIX: LOGN) (NASDAQ: LOGI), laptop users make significant sacrifices in exchange for mobility. The complaints are widespread and range in nature from scorching heat to sub-par sound.
“People love their laptops and they’re often willing to forgo comfort in the pursuit of mobility,” said Rory Dooley, Logitech senior vice president and general manager of the control devices business unit. “The irony is that they don’t need to. There are accessories that can vastly improve their overall laptop experience, no matter where people want to use their laptop – at their desk, on the couch, or even on the go.
All Fired Up
Laptop users reported that they consistently face issues with the heat generated from their computer. In fact, nearly half (47 percent) of laptop users surveyed have had to temporarily quit using their laptop because the heat became unbearable. Surprisingly, a majority (62 percent) agree that the bottom of their laptop gets so hot that they could fry an egg on it. Desperate solutions that people have tried including a pillow (27 percent), towel (19 percent) and magazine (15 percent)–don’t adequately address the problem.
“Our lineup of lapdesks can help alleviate the issues people experience with laptop heat,” said Denis Pavillard, vice president of product marketing for laptop accessories. “Options such as our Logitech® Portable Lapdesk N315 are slim enough to take along in a laptop bag, and others such as our Logitech® Speaker Lapdesk N700 or the Logitech® Speaker Lapdesk N550, can shield users from heat and deliver rich, full stereo sound too.”
Did You Hear That?
Most people surveyed use their laptop primarily for entertainment, with just 4 percent using their laptop exclusively at work. The trend of buying music and videos online has rapidly emerged as a common practice and people often use their PCs to listen to their newly acquired digital files for the first time. However, listening to digital files on the built-in speaker on a laptop leaves room for improvement.
The sound quality is oftentimes so poor that nearly 1 in 3 laptop users surveyed report having stopped a movie on their laptop because the speaker quality was sub-par. And in the survey conducted by Wakefield, more than half of all laptop users reported that music sounds better on a record player (52 percent) than on their laptop’s speakers. These numbers show that people are well aware that their laptop speakers are stuck in the past despite the fact that the technology packed inside has become exponentially more powerful.
“The speakers built into most laptops are tiny and can’t always reproduce powerful audio,” said Robert Jacobson, director of product marketing for PC speakers at Logitech. “Whether you’re an MP3 junkie or a movie lover, Logitech offers laptop speakers that make it easy to connect, turn the sound up and lose yourself in the things you love. There’s no reason that you can’t have quality audio while you’re watching the newest Hollywood release on your laptop – there are solutions abound to upgrade inadequate audio performance anywhere you take your laptop.”
To learn more about Logitech laptop accessories including speakers, lapdesks and cooling pads, visit Logitech.com.
Methodological Notes
The Logitech Laptop Survey was conducted by Wakefield Research between August 26th and August 30th, 2010. For this research, 594 interviews were fielded among nationally representative Americans aged 18 and older who own or regularly use a laptop computer, using an email invitation and an online survey. Quotas were set to ensure reliable and accurate representation of the total U.S. population ages 18 and older.
Results of any survey sample are subject to sampling variation. For this sample, the chances are 95 in 100 that the survey result does not vary by more than 4.0 percentage points (plus or minus) from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
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Full View / NID: 35594 / Submitted by: The Zilla of Zuron
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FREMONT, Calif., Nov. 5, 2010 and MORGES, Switzerland, Nov. 6, 2010 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced it will hold an Analyst and Investor Day in New York on Tuesday, Nov. 9, 2010. Presentations will begin at 9:00 a.m. Eastern Standard Time/15:00 Central European Time. The meeting will feature presentations by senior Logitech executives covering key company initiatives and a discussion of future priorities. A live webcast and replay of the meeting will be available on the Logitech corporate Web site at http://ir.logitech.com.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
(LOGI - IR)
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Full View / NID: 35537 / Submitted by: The Zilla of Zuron
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