Briefing for Analysts and Investors to Be Held Today in Zurich
NEWARK, Calif. & ZURICH--(BUSINESS WIRE)--
Prior to a briefing for financial analysts and investors in Zurich
today, Logitech International (SIX: LOGN) (Nasdaq: LOGI) announced that
its Board of Directors has approved a dividend of CHF 0.21 per share,
subject to shareholder approval at the Company's Annual General Meeting
in September 2013. Logitech plans to issue an annual dividend on a
recurring basis, subject to shareholder approval and other Swiss
statutory requirements.
At today's briefing for financial analysts and investors, Logitech plans
to discuss its overall business strategy and its strategy for key
product categories. The Company plans to reiterate its FY 2014 financial
outlook announced on April 25, 2013 and discuss its long-range financial
performance goals for FY 2016: Sales of $2.25 billion, operating income
of $150 million and gross margin of approximately 35 percent. These
goals are based on the Company's completed and planned actions in FY
2013 through FY 2016 to accelerate growth in mobility products, maximize
profitability in its PC peripherals categories, reduce operating
expenses as a percent of sales and operate as a faster, simpler company.
In addition to providing financial performance goals for FY 2016,
Logitech also plans to provide a financial performance scenario for how
FY 2015 may bridge to FY 2016. The FY 2015 bridge scenario includes:
Sales of $2.1 billion, operating income of $90 million and gross margin
of 34.5%.
A webcast of Logitech's briefing for financial analysts and investors
will begin at 09:00 Central European Summer Time on May 23, 2013. The
webcast and a subsequent replay will be available on Logitech's website
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 includes forward-looking
statements within the meaning of the U.S. federal securities laws,
including, without limitation: Logitech's ability to accelerate growth
in mobility products, maximize profitability in its PC peripherals
categories, reduce operating expenses as a percent of sales and operate
as a faster, simpler company; FY 2014 outlook, FY 2015 bridge scenario
and FY 2016 long-range target scenario for sales, operating income and
gross margin; and payments of a recurring annual dividend. These
statements are subject to risks and uncertainties that may cause actual
results and events to differ materially, including without limitation:
if our product offerings, marketing activities and investment
prioritization decisions do not result in the sales, profitability or
profitability growth we expect, or when we expect it; the demand of our
customers and our consumers for our products and our ability to
accurately forecast it; if we fail to innovate and develop new products
in a timely and cost-effective manner for our new and existing product
categories; if we do not successfully execute on our growth
opportunities in our new product categories and sales in emerging market
geographies; if sales of PC peripherals in mature markets are less than
we expect; the effect of pricing, product, marketing and other
initiatives by our competitors; if our products and marketing strategies
fail to separate our products from competitors' products; if our
restructurings fail to produce the intended performance and cost savings
results; if we are unable to divest or discontinue non-strategic product
categories and products and effect strategic acquisitions and
investments successfully; if there is a deterioration of business and
economic conditions in one or more of our sales regions or operating
segments, or significant fluctuations in exchange rates. These risks and
uncertainties are detailed in Logitech's filings with the Securities and
Exchange Commission, including its Quarterly Report on Form 10-Q for the
fiscal quarter ended December 31, 2012 and its Annual Report on Form
10-K for the fiscal year ended March 31, 2012, available at www.sec.gov.
Logitech does not undertakes any obligation to update any
forward-looking statements to reflect new information or events or
circumstances occurring after the date of this release.
(LOGIIR)
Logitech International
Joe Greenhalgh
Vice President, Investor
Relations — USA
510-713-4430
or
Nancy Morrison
Vice
President, Corporate Communications — USA
510-713-4948
or
Laura
Scorza
Sr. Public Relations Manager — Europe
+41-(0)
21-863-5336
Source: Logitech International
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