Press Release Details

Revenue at $314 Million, Operating Income at $42 Million, Net Income at $33 Million

Fremont, CA; Romanel-sur-Morges, Switzerland -- January 22, 2002 -- Logitech International (Switzerland:LOGN, LOGZ) (Nasdaq:LOGI) today posted its best quarter yet. Driven by strong holiday sales across the entire product portfolio, revenue for the third quarter, ended December 31, 2001, was $314 million, an increase of 35 percent over the $232 million posted for the same quarter last year. Net income of $33 million ($0.66 per share/ADS) was 67 percent higher than last year's net income of $19.9 million ($0.42 per share/ADS). Operating income of $42 million, compared with $26 million for the same quarter last year, represented a 65 percent growth. Gross margin at 37.9 percent grew by 233 basis points sequentially and 324 basis points over the same quarter last year.

The Company's retail business grew by 45 percent year over year and accounted for 87 percent of third quarter revenue, continuing to thrive, with new offerings entering the market in each major product category. Of special note is the ongoing success of Logitech's cordless products, especially cordless keyboards and cordless optical mice, as well as strong sales of Internet video cameras.

Highlights of the third quarter included:

• Over one million cordless desktops (cordless mouse + keyboard combination) sold.
• Over one million Internet video cameras sold.
• Launch of new "dualcam" video cameras, the ClickSmartTM family, which combine digital camera mobility with Internet video communications.
• Introduction of the MouseMan® TravelerTM, a compact optical mouse designed for the burgeoning "mobile" environment.
• Positive initial response to the new high-end Momo® Force designer-style steering wheel since its introduction in early September. Strong overall sales of steering wheels for the PlayStation® 2 platform.
• Successful launch of Z-series speakers in the U.S. market. These initial Logitech-branded high-end audio products underscore the opportunity afforded by the acquisition of Labtec.

"We are extremely pleased with our third-quarter performance," commented Guerrino De Luca, president and chief executive officer. "Our business, driven by compelling, innovative products at affordable price points, coupled with a largely untapped installed base, expanding usage of the PC, and our increasing presence on additional platforms, has further proven its ability to generate growth and to deliver powerful earnings leverage.

"In the midst of an extremely challenging market and economy, we have delivered our best quarter yet, and we remain confident in our ability to grow across a broad spectrum of platforms and products."

The Company updated its guidance for the full Fiscal Year 2002, ending March 31, 2002, indicating that it now expects revenue growth for the full year to slightly exceed its original target of 25 percent, and operating income to significantly surpass previous guidance and reach the $90 million to $92 million range, a 65 percent increase over the past fiscal year.

The Company also gave the first indications of its expectations for Fiscal 2003, ending March 31, 2003. Revenues should grow approximately 15 percent, with operating income expected in the $110 million to $120 million range, a growth of 25 to 30 percent over Fiscal 2002.

There will be an earnings teleconference at 9:00 AM Pacific Standard Time/12:00 PM Eastern Standard Time/18:00 Central European Time on January 22, 2002, to discuss these results. A live webcast of the teleconference will be accessible at www.logitech.com. In addition, a replay of the teleconference will be made available through February 5, 2002, on the Logitech web site.

About Logitech: Founded in 1981, Logitech designs, manufactures and markets innovative peripherals 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.

In March 2001, Logitech completed the purchase of Labtec Inc., a Vancouver, Washington-based provider of high-technology and other peripherals and accessories for computing, communication and entertainment. The Labtec brand, which includes a variety of PC audio and other peripherals designed to offer affordable quality, is now marketed by Logitech.

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 full year of Fiscal 2002, and revenue, operating income, and operating income growth for Fiscal 2003, and the ability to grow across platforms and products. 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 generally 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 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 www.logitech.com.