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  Logitech-Press related Technical Updates [Page: 35 of 42] @ TACKtech Corp.  

08.04.2010 - Have Tunes, Will Travel: Logitech Unveils Rechargeable Speaker Dock for the iPod



View Logitech-Press related news. Logitech – Aug. 4, 2010 – Today, Logitech (SIX: LOGN) (NASDAQ: LOGI) unveiled the Logitech® Rechargeable Speaker S715i, a portable speaker dock for iPod and iPhone that delivers bold sound you can carry around. Great sound quality provided by eight drivers lets you rock out anytime while the rechargeable battery lets you take the speakers with you wherever you go. The Logitech Rechargeable Speaker S715i is expected to be available in the U.S. and Europe in August for a suggested retail price of $149.99 (U.S.).
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08.03.2010 - Introducing Logitech Alert Digital Video Security: Be There Even When You’re Not



View Logitech-Press related news. FREMONT, Calif. — Aug. 3, 2010 — Logitech (SWX: LOGN) (NASDAQ: LOGI) today introduced Logitech Alert™, a complete HD digital video security system that lets you keep an eye on what matters most. The Logitech Alert™ 750i Master System and the weatherproof Logitech Alert™ 750e Outdoor Master System with night-vision let you be there when you’re not, by providing everything you need to monitor your home inside and out. The new Logitech Alert master systems come with a smart HD camera, powerful PC and Web software, and free remote viewing on a PC, Mac® or iPhone®, Blackberry® or Android® smartphone. The Logitech Alert 750i Master System and the Logitech Alert 750e Outdoor Master System will be offered for a suggested retail price of U.S. $299.99 and $349.99, respectively. The Logitech Alert 700i Add-On Camera and the Logitech Alert 700e Outdoor Add-On Camera will be offered for the suggested retail price of U.S. $229.99 and $279.99, respectively. Logitech Alert Web and Mobile Commander will be available as a bundle with a seven-day free trial and a suggested retail price of U.S. $79.99 per year. All products are expected to be available in the U.S. and Europe in August. Please visit www.logitech.com/alert for more information.
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08.02.2010 - Logitech CEO Gerald Quindlen to Present at the 12th Annual Pacific Crest Technology Leadership Forum



View Logitech-Press related news. FREMONT, Calif., Aug. 2, 2010 and ROMANEL-SUR-MORGES, Switzerland, Aug. 3, 2010 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced that Gerald P. Quindlen, Logitech president and chief executive officer, will present at the 12th Annual Pacific Crest Technology Leadership Forum in Vail, Colorado on Aug. 10, 2010 at 10:30 a.m. Mountain Daylight Time / 18:30 Central European Summer Time. A live webcast and replay will be available on the Logitech corporate Web site at http://ir.logitech.com.
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07.28.2010 - Logitech Announces First Quarter Financial Results for FY 2011



View Logitech-Press related news. FREMONT, Calif., July 28, 2010 and ROMANEL-SUR-MORGES, Switzerland, July 29, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the first quarter of Fiscal Year 2011. Sales for Q1 FY 2011 were $479 million, up 47 percent from $326 million in the same quarter last year. Excluding the unfavorable impact of exchange rate changes, sales increased by 50 percent. Operating income was $12 million, compared to an operating loss of $35 million in the same quarter a year ago. Net income for Q1 was $20 million ($0.11 per share) compared to a net loss one year ago of $37 million ($0.21 per share). Gross margin for Q1 FY 2011 was 35.3 percent, up from 23.9 percent in Q1 FY 2010. Logitech’s retail sales for Q1 FY 2011 increased by 39 percent year over year, with sales up by 66 percent in the Americas, 24 percent in Asia and 21 percent in EMEA. OEM sales increased by 38 percent. “Logitech’s Fiscal Year 2011 is off to a strong start,” stated Gerald P. Quindlen, Logitech president and chief executive officer. “We exceeded our sales and profitability targets and achieved our best-ever Q1 gross margin. And we had robust growth in most of our retail product categories, led by Harmony remotes and pointing devices. Based on our strong Q1 performance and improving consumer demand for our products, we are increasingly optimistic about our full-year performance for Fiscal Year 2011 and have raised our outlook accordingly. Furthermore, we are enthusiastic about the pending launch of Logitech products for Google TV and the potential for further upside to our FY11 sales outlook.” Outlook For Fiscal Year 2011, ending March 31, 2011, Logitech has raised its sales outlook from approximately $2.3 billion to the range of $2.3 to $2.35 billion. The target for operating income has been raised from approximately $156 million to a range of $160 to $170 million. Expected gross margin has increased from approximately 34 percent to the range of 34 to 35 percent. The tax rate, formerly expected to be approximately 18 percent, is now expected to be approximately 16 percent. Earnings Teleconference and Webcast Logitech will hold an earnings teleconference on Thursday, July 29, 2010 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 2011, the potential for future upside to Logitech’s FY 11 sales outlook, and the launch of products for Google TV. 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: our inability to predict the strength of the improvement in our business, operating results and financial condition; the demand of our customers and our consumers for our products and our ability to accurately forecast it; consumer reaction to our new products; 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 we fail to take advantage of long-term trends in the consumer electronics and personal computers industries; if we fail to successfully innovate in our current and emerging product categories and identify new feature or product opportunities; the sales mix among our lower- and higher-margin products and our geographic sales mix; if we fail to execute upon our long-term strategic plans and opportunities; Google TV and our products for the new platform being released in a timely fashion, and U.S. consumer reaction to and demand for Google TV and our products for it; our product introductions and marketing activities not resulting in the product or category growth we expect, or when we expect it; 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 subsequent Quarterly Reports on Form 10-Q 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 Web site at www.logitech.com. (LOGI – IR)
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07.27.2010 - Logitech Announces Neil Hunt, Netflix Chief Product Officer, as New Board Nominee



View Logitech-Press related news. FREMONT, Calif., July 27, 2010 and ROMANEL-SUR-MORGES, Switzerland, July 28, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that its board of directors will ask shareholders to approve the election to the board of Neil Hunt, chief product officer of Netflix, Inc., the leading Internet movie subscription service, at the company’s annual general meeting in Lausanne, Switzerland on Sept. 8, 2010. At the meeting, Logitech shareholders will also be asked to re-elect to its board of directors Daniel Borel, Logitech co-founder, Sally Davis, BT Wholesale chief executive officer, Guerrino De Luca, Logitech chairman and Monika Ribar, Panalpina chief executive officer. Logitech’s annual report and invitation and proxy statement for the annual general meeting are available on Logitech’s Web site at http://ir.logitech.com. The materials for the meeting will be mailed to Logitech registered shareholders in early August.
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07.15.2010 - RSS - Logitech Unveils Next-Generation of Surround Sound Speakers



View Logitech-Press related news. Logitech – July 15, 2010 – To give you big, 5.1 sound for your music, movies and games, today Logitech (SIX: LOGN) (NASDAQ: LOGI) unveiled the next-generation surround Logitech® Surround Sound Speakers Z506. Giving you the flexibility to set up your system the way you want, Logitech’s newest speaker set lets you connect nearly any entertainment device, including a PC, PLAYSTATION®3 (PS3™), Xbox 360®, Wii®, iPod® or a DVD player. Offering 75 watts (RMS) of power and featuring 3D Stereo surround sound technology, the Logitech Z506 speakers can convert two-channel stereo into an immersive surround sound experience. The Logitech Surround Sound Speakers Z506 is expected to be available in the U.S. and Europe in August for a suggested retail price of $99.99 (U.S.). 
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07.07.2010 - Logitech Acquires Paradial



View Logitech-Press related news. FREMONT, Calif., July 7, 2010 and ROMANEL-SUR-MORGES, Switzerland, July 8, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced the acquisition of the assets of Paradial AS, a Norway-based leading provider of firewall and NAT (network address translation) traversal solutions for video communication. Paradial’s technology addresses one of the most significant barriers to the widespread adoption of Internet-based video communication: challenges encountered when calling across protected networks. Traversing any firewall while maintaining a high level of security, the Paradial technology enables seamless video calling between people inside the walls of an enterprise and those inside other enterprises, in remote offices or telecommuting. While Logitech is already offering Paradial technology to LifeSize customers through an OEM agreement, the acquisition allows the company to closely integrate firewall and NAT traversal across its video communication product portfolio, enabling reliable, high-quality end-to-end HD video calling over highly protected networks. “With the acquisition of Paradial, Logitech is taking another step toward delivering on our vision to bring seamless HD video communication to anyone, anywhere,” said Gerald P. Quindlen, Logitech president and chief executive officer. “By integrating Paradial’s technology into our future product portfolio, Logitech is uniquely positioned to deliver a complete and intuitive HD video conferencing experience for companies of any size.” Most of Paradial’s employees, including founders, will be part of Logitech’s LifeSize division. Financial terms were not disclosed. 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 Web site at www.logitech.com. (LOGI – IR)
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07.01.2010 - New Logitech Headsets Deliver Crystal Clear Audio



View Logitech-Press related news. FREMONT, Calif. — July 1, 2010 — Bringing crystal-clear audio for your Internet and video calls, music and movies, Logitech (SIX: LOGN) (NASDAQ: LOGI) today announced two new headsets. Featuring support for super wideband audio, the Logitech® USB Headset H530 and the Logitech® Laptop Headset H555 sound so clear it’s almost like you’re in the same room as the people you call. The lightweight Laptop Headset H555 folds flat and easily fits into the included case. The USB Headset H530 offers laser-tuned drivers for exceptional audio quality. Both headsets are compatible with Logitech Vid™ HD, Skype™ 4.0 for Windows® or later, and Skype 2.8 for Mac® or later.  The Logitech Laptop Headset H555 is expected to be available in July for $59.99 (U.S) and €59.99. The Logitech USB Headset H530 is expected to be available in July for $49.99 (U.S.) and €49.99
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07.01.2010 - RSS - New Logitech Headsets Deliver Crystal Clear Audio



View Logitech-Press related news. FREMONT, Calif. — July 1, 2010 — Bringing crystal-clear audio for your Internet and video calls, music and movies, Logitech (SIX: LOGN) (NASDAQ: LOGI) today announced two new headsets. Featuring support for super wideband audio, the Logitech® USB Headset H530 and the Logitech® Laptop Headset H555 sound so clear it’s almost like you’re in the same room as the people you call. The lightweight Laptop Headset H555 folds flat and easily fits into the included case. The USB Headset H530 offers laser-tuned drivers for exceptional audio quality. Both headsets are compatible with Logitech Vid™ HD, Skype™ 4.0 for Windows® or later, and Skype 2.8 for Mac® or later.  The Logitech Laptop Headset H555 is expected to be available in July for $59.99 (U.S) and €59.99. The Logitech USB Headset H530 is expected to be available in July for $49.99 (U.S.) and €49.99
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06.29.2010 - Logitech to Announce First Quarter Fiscal 2011 Results



View Logitech-Press related news. FREMONT, Calif., June 29, 2010 and ROMANEL-SUR-MORGES, Switzerland, June 30, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it will release quarterly financial results on Wednesday, July 28, 2010 at 10 p.m. Eastern Daylight Time and Thursday, July 29, 2010 at 04:00 Central European Summer Time. There will be a teleconference to discuss these results on Thursday, July 29, 2010 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).   # # # 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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06.10.2010 - Logitech Unveils Family of HD Webcams and Logitech Vid HD



View Logitech-Press related news. Logitech – June 10, 2010 – Today Logitech (SIX: LOGN) (NASDAQ: LOGI) took another step toward delivering on its promise to bring HD video to anyone, anywhere, unveiling a full lineup of HD webcams and the recently announced Logitech® Vid™ HD, the free and easy way to make an HD video call. Offering HD 720p video calling, Full HD 1080p video recording, Logitech Fluid Crystal™ technology and one-click HD-uploading to Facebook™ and YouTube®, the flagship Logitech® HD Pro Webcam C910 makes high-definition video calling, recording and sharing a reality. The Logitech HD Pro Webcam C910 is expected to be available in the U.S., Europe and Asia in August for a suggested retail price of $99.99 (U.S.). The Logitech HD Webcam C510 (SRP: $79.99 U.S.) is expected to be available in U.S. in June and in Europe and Asia in August. The Logitech HD Webcam C310 (SRP: $49.99 U.S.) and the Logitech HD Webcam C270 (SRP: $39.99 U.S.) are expected to be available in the U.S. in June, in Europe in July, and in Asia in August. For more information on Logitech HD webcams, please visit www.logitech.com/webcams.
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06.08.2010 - Logitech Announces Resignation of CMO David Henry



View Logitech-Press related news. FREMONT, Calif., June 8, 2010 and ROMANEL-SUR-MORGES, Switzerland, June 9, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that David Henry, senior vice president of customer experience and chief marketing officer, plans to leave the company. Mr. Henry, who has been with Logitech since 2001, will lead the recruitment process for his successor and remain with the company until approximately October 2010. “David Henry has made a significant contribution to Logitech over the last nine years, first as the general manager of our largest business unit and more recently as our CMO,” said Gerald P. Quindlen, Logitech president and chief executive officer. “I am very grateful to David for his many contributions to Logitech and I am pleased that David has agreed to help us identify Logitech’s next chief marketing officer over the next few months as we stretch the company in new directions and reach new consumers with innovative products for the digital living room and the mobile lifestyle.” 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 Web site at www.logitech.com.
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06.02.2010 - Logitech CFO Erik Bardman to Present at Merrill Lynch Telecommunications, Media and Technology Conference 2010



View Logitech-Press related news. FREMONT, Calif., June 2, 2010 and ROMANEL-SUR-MORGES, Switzerland, June 3, 2010 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced that Erik Bardman, Logitech senior vice president of finance and chief financial officer, will present at the Merrill Lynch Telecommunications, Media and Technology Conference 2010 in London on June 9, 2010 at 10:10 British Summer Time / 5:10 a.m. Eastern Daylight Time. 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). # # # 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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06.01.2010 - Logitech CEO Gerald Quindlen to Present at UBS Global Technology and Services Conference in New York



View Logitech-Press related news. FREMONT, Calif., June 1, 2010 and ROMANEL-SUR-MORGES, Switzerland, June 2, 2010 — Logitech International (SIX: LOGN) (NASDAQ: LOGI) today announced that Gerald P. Quindlen, Logitech president and chief executive officer, will present at the UBS Global Technology and Services Conference in New York on June 8, 2010 at 2:30 p.m. Eastern Daylight Time / 20:30 Central European Summer Time. Presentation slides along with 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 Web site at www.logitech.com.   (LOGI – IR)  
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05.27.2010 - Logitech Files Annual Report on Form 10-K



View Logitech-Press related news. FREMONT, Calif., May 27, 2010 and ROMANEL-SUR-MORGES, Switzerland, May 28, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it filed its Annual Report on Form 10-K for Fiscal Year 2010 with the U.S. Securities and Exchange Commission on May 27, 2010. It is available on Logitech’s Web site at http://ir.logitech.com. Logitech expects to publish its annual report to shareholders, and its invitation and proxy statement for its 2010 annual general meeting, in late July 2010. 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 Web site at www.logitech.com.
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05.26.2010 - Express Your Inner Self with the Logitech Fantasy Collection



View Logitech-Press related news. Logitech — May 26, 2010 — Today Logitech (SIX: LOGN) (NASDAQ: LOGI) introduced the Logitech® Fantasy Collection, a range of products in brilliant colors and fanciful patterns inspired by trends in fashion and pop culture. The collection includes some of Logitech’s most popular products in three flagship patterns: Blue Swirl, Pink Balance and Fleur Dark, along with many additional patterns and solid colors. The Fantasy Collection products are affordably priced and will be available in the U.S. and many countries in Latin America in late May, and will launch in Europe later this summer.  For more information please visit www.logitech.com/fantasycollection.
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05.20.2010 - Industry Leaders Announce Open Platform to Bring Web to TV



View Logitech-Press related news. Today at the Google I/O developer conference Google announced the development of Google TV along with partners Logitech (www.logitech.com/news/googletv), Sony and Intel. Google TV is an open platform that adds the power of the web to the television viewing experience. To bring Google TV to the 60 million HDTVs already in U.S. living rooms, Logitech will offer the first retail companion box for Google TV. Logitech’s companion box will leverage our Harmony remote technology for controlling your entertainment devices and will include a controller optimized for the Google TV experience – combining a compact keyboard, remote control and touchpad. Logitech will also offer a collection of products for Google TV such as an HDTV camera, video calling service and other choices for control, including an app that will turn your smart phone into a Google TV controller. Logitech with Google TV is expected to be available in the Fall.
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05.19.2010 - Logitech and its LifeSize Communications Division Join UCIF to Advance Unified Communications Interoperability



View Logitech-Press related news. Logitech — May 19, 2010 — Logitech (SIX: LOGN) (NASDAQ: LOGI) today announced that, along with its LifeSize Communications division, it is a founding member of  the newly formed Unified Communications Interoperability Forum (UCIF), a non-profit alliance of worldwide technology leaders working together to fully realize the potential of unified communications (UC). The UCIF is designed to help global businesses be more productive by enabling standards-based, cross-vendor interoperability of UC hardware and software across enterprises, service providers and consumer clouds.  Learn more about Logitech / LifeSize‘s role in UCIF at Blog.Logitech and http://www.lifesize.com/ucif.
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05.11.2010 - Logitech CFO Erik Bardman to Present at Two Financial Community Conferences



View Logitech-Press related news. FREMONT, Calif., May 11, 2010 and ROMANEL-SUR-MORGES, Switzerland, May 12, 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 following financial community conferences: Deutsche Bank Swiss Equities conference in Zurich, Switzerland on May 18, 2010 at 11:15 Central European Summer Time / 5:15 a.m. Eastern Daylight Time. Presentation slides will be available on the Logitech corporate Web site at http://ir.logitech.com. UBS Small and Midcap Summit in London on May 19, 2010 at 9:15 British Summer Time / 4:15 a.m. Eastern Daylight Time. Presentation slides will be available on the Logitech corporate Web site at http://ir.logitech.com. About Logitech Logitech is a world leader in personal peripherals, driving innovation in PC navigation, Internet communications, digital music, home-entertainment control, gaming and wireless devices. Founded in 1981, Logitech International is a Swiss public company traded 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 Web site at www.logitech.com.   (LOGI – IR)  
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04.28.2010 - Logitech Announces Fourth Quarter and Full-Year Financial Results for FY 2010



View Logitech-Press related news. FREMONT, Calif., April 28, 2010 and ROMANEL-SUR-MORGES, Switzerland, April 29, 2010 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full year of Fiscal Year 2010. Sales for Q4 FY 2010 were $525 million, up 29 percent from $408 million in the same quarter last year. Excluding the favorable impact of exchange rate changes, sales increased by 25 percent. Operating income was $28 million, compared to an operating loss of $43 million in the same quarter a year ago. Net income for Q4 was $24 million ($0.14 per share) compared to a net loss one year ago of $35 million ($0.20 per share). Gross margin for Q4 FY 2010 was 35.8 percent, up from 25.0 percent in Q4 FY 2009.   Logitech’s retail sales for the fourth quarter of FY 2010 grew by 27 percent year over year, with sales up by 54 percent in the Americas, 15 percent in EMEA, and 10 percent in Asia. OEM sales grew by 1 percent.  “After a challenging start to the year, we ended Fiscal Year 2010 with very strong sales and gross margin performance,” said Gerald P. Quindlen, Logitech president and chief executive officer. “I’m very pleased that in Q4 we delivered strong sell-through growth and achieved double-digit sales growth in our three retail regions, as well as double-digit sales growth across all of our retail product categories. And we delivered our highest Q4 gross margin ever.   “As we begin FY 2011, our focus shifts from emerging stronger from the downturn to returning to driving strong top-line and profitability growth by executing on our long-term strategy. We enter the new fiscal year with an improving economic outlook, a strong balance sheet and accelerating sales momentum in all retail sales regions. We’re well positioned for growth across our product portfolio. Most notably, we see continued strong double-digit sales growth in the digital home with our line of Harmony remotes, which now includes innovative new models at lower price points for a broader range of households. We also expect accelerating sales growth in FY 11 from our LifeSize video communications division, which in Q4 had its highest billings ever.”   Full-Year Financial Results For the full fiscal year, sales were $2.0 billion, down from $2.2 billion in FY 2009. Operating income was $78 million, down from $110 million a year ago. Net income was $65 million ($0.36 per share), compared to $107 million ($0.59 per share) in the prior year. Gross margin for FY 2010 was 31.9 percent compared to 31.3 percent in FY 2009.   Outlook For Fiscal Year 2011, ending March 31, 2011, Logitech targets sales of approximately $2.3 billion and gross margin of approximately 34 percent. The Company expects operating income to approximately double year over year. The tax rate for FY 2011 is expected to be approximately 18 percent.   For the first quarter of Fiscal Year 2011, ending June 30, 2010, Logitech targets sales in the range of $450 million to $465 million and gross margin of approximately 34 percent. The Company expects operating income for Q1 FY 2011 to be approximately $5 million.   Earnings Teleconference and Webcast Logitech will hold an earnings teleconference on Thursday, April 29, 2010 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 personal peripherals, driving innovation in PC navigation, Internet communications, digital music, home-entertainment control, gaming and wireless devices. 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 and gross margin for Q1 FY 2011, anticipated sales, operating income, gross margin and tax rate for FY 2011, returning to strong top-line and profitability growth, executing on our long-term strategy, being positioned for growth across our product portfolio, the rate of sales momentum in our retail sales regions and for our LifeSize video communications division, and anticipated strong double-digit sales growth in Harmony remotes. 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: our inability to predict the timing and strength of the improvement in our business, operating results and financial condition; the demand of our customers and our consumers for our products and our ability to accurately forecast it; consumer reaction to our new products; 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 we fail to take advantage of long-term trends in the consumer electronics and personal computers industries; if we fail to successfully innovate in our current and emerging product categories and identify new feature or product opportunities; the sales mix among our lower- and higher-margin products and our geographic sales mix; if we fail to execute upon our long-term strategic plans and opportunities; our product introductions and marketing activities not resulting in the product or category growth we expect, or when we expect it; the retention of employees of LifeSize and the ability of Logitech to successfully integrate LifeSize’s market opportunities, technology, personnel and operations and to achieve anticipated results; 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, 2009, and our subsequent Quarterly Reports on Form 10-Q 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 Web site at www.logitech.com.   (LOGI – IR)  
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