Press Release Details

Q4 FY 2002:

• Revenue $256 Million (up 34%)
• Operating Income $28.1 Million (up 114%)
• Net Income Doubles to $21.5 Million

Fiscal Year 2002:

• Revenue $944 Million (up 28%)
• Operating Income $97 Million (up 78%)
• Net Income $75 Million (up 66%)

Fremont, CA; Romanel-sur-Morges, Switzerland - April 24, 2002 -- Logitech International (Switzerland: LOGN, LOGZ) (Nasdaq:LOGI) today announced another record quarter, completing its best year ever. For Q4 2002, which ended on March 31, 2002, the Company posted sales of $256 million, a 34 percent growth over sales of $190 million for the same quarter last year. Operating income of $28.1 million was 114 percent greater than the previous year. Net income doubled, reaching $21.5 million ($0.42 per share/ADS), compared with $10.8 million ($0.23 per share/ADS) for Q4 FY01. Gross margin at 34.2 percent grew by 253 basis points over the same quarter last year.

For the full fiscal year, Logitech posted $944 million in revenue, a 28 percent growth over fiscal 2001. Operating income at $97 million was 78 percent higher than $55 million for the prior year, while net income at $75 million ($1.50 per share/ADS) grew by 66 percent over last year's net income of $45 million ($0.96 per share/ADS). Gross margin for the full year was 33.4 percent, an increase of 173 basis points over prior year's gross margin of 31.7 percent. Cash flow from operations for the full year was $113 million, an increase of over $100 million compared to the prior year.

The Company's retail business remained strong, growing by 35 percent for the quarter and 42 percent for the year. Although the OEM business saw an overall decline of 15 percent for the full year, it strengthened during the fourth quarter, accounting for $44 million in revenue (17 percent of total sales), an increase of 33 percent over the same quarter last year.

"We are very pleased with our financial performance in Q4 and for the full fiscal 2002," said Guerrino De Luca, president and chief executive officer. "We have emerged stronger than ever in a year marked by significant challenges in global economic and societal conditions. During the past year, we made promising entries into several exciting new business areas, as we continued to expand beyond the desktop into additional platforms and computing environments. At the same time, our cordless and video franchises keep growing, and our audio business has started to bear fruit. On the OEM side, we have begun to realize new opportunities for bundling higher value-add products at the system level such as cordless, audio and optical devices."

Highlights of the fourth quarter included:

• Inventory turns increased to a record of 7.9 times.
• Net cash reached $138 million.
• Sale of over two million cordless products.
• Sale of over one million webcams.
• Second manufacturing outsourcing facility goes online at PEMSTAR (Guadalajara, Mexico).
• Agreement with Sweden-based Anoto for introducing digital pen and paper solutions to the PC platform.
• Release of audio software developer's kit for PlayStation®2 computer entertainment system.

"We are optimistic as we enter the new fiscal year," added Mr. De Luca, "with new products announced and in the pipeline for consumers at the desktop, in the living room and on-the-go. While we anticipate continuing challenges in the economy and in the marketplace, we are confident that our current and upcoming product portfolio is poised to sustain our growth. What's more, we back the wealth of our product offerings with a solid financial position highlighted by sound inventory management, a healthy cash position and ongoing ability to balance cost control with innovation."

The Company set its growth targets for fiscal year 2003 at the higher end of the previously indicated range, saying it now plans to reach $1.1 billion in revenue (an increase of 16 percent over fiscal 2002) and operating income of $120 million (an increase of 23 percent).

For the current quarter, the first quarter of fiscal year 2003, the Company expects revenue of around $200 million (an increase of approximately 17 percent over the first quarter of fiscal 2002), and operating income of around $11 million (an increase of approximately 35 percent over the first quarter of fiscal 2002).

There will be an investor and analyst meeting in Zurich at 10:00 CET/4:00 A.M. EDT on April 24 to discuss these results and present the Company's outlook for Q1 and FY03. A live webcast of the meeting will be available at http://www.logitech.com. A replay of this webcast will be available on the Logitech corporate web site through April 26.

There will also be an earnings teleconference at 16:00 CET/10:00 A.M. EDT on April 24. A live webcast of the teleconference can be accessed at http://www.logitech.com. A replay of this teleconference will be available through May 3 on the Logitech corporate web site.

Note on the financial statements

Effective January 1, 2002, the Company implemented the provisions of the FASB's EITF No. 01-9. These provisions address the treatment of certain channel marketing costs. This has led to the reclassification of some sales and marketing expenses from operating expenses to a deduction from sales. The impact of this change is that the company's reported sales, gross profit, and sales and marketing expenses all decline by the same amount. There is no change in operating income, net income or earnings per share. This reclassification is in effect for both the current and all prior periods, and the figures mentioned in this release reflect the adoption of the FASB provisions. Supplemental statements reflecting both pre- and post-reclassification figures are included with the financial statements accompanying this release.

About Logitech: Founded in 1981, Logitech designs, manufactures and markets personal interface products that provide people with easy access to the digital world. The Company's product family includes Internet video cameras, mice and trackballs, keyboards, audio and telephony products, interactive gaming devices and 3D controllers.

With operational headquarters through its U.S. subsidiary in Fremont, California, and regional headquarters through local subsidiaries in Switzerland, Taiwan and Hong Kong, Logitech International is a Swiss public company traded in Switzerland on the Swiss Stock Exchange (LOGN and LOGZ) and in the U.S. on the Nasdaq National Market System (LOGI). The Company has manufacturing facilities in Asia and offices in major cities in North America, Europe and Asia Pacific.

This press release contains forward-looking statements, including the statements regarding expected revenue and operating income for the fiscal first quarter and the full fiscal year 2003, the Company's ability to sustain growth with offerings that respond to consumer demands and ability to balance cost control with innovation. These forward-looking statements involve risks and uncertainties. The Company's actual performance could differ materially from that anticipated in these forward-looking statements as a result of certain factors, including general economic and political conditions, the timing of new product introductions by the Company and its competitors and their acceptance by the market, timely availability and pricing of products and components, price protection charges and product returns from customers, the impact of competition on the Company's average selling prices and operating expenses, inventory management and exposures, the outcome of ongoing intellectual property disputes, technological changes and their acceptance by the market, fluctuations in exchange rates, as well as those additional factors set forth in the Company's Annual Report on Form 20-F dated May 31, 2001, and subsequent filings, available from the SEC's Edgar database at http://www.sec.gov and upon request from Logitech by calling (510) 713-4220. Logitech does not undertake to update any forward-looking statements.

All trademarks are the property of their respective owners. For more information about Logitech and its products, visit the Company's web site at http://www.logitech.com.