Oct 23, 2001 Logitech Reports Record Q2 Results
Revenue Up 20%; Net Income Up 49%; Operating Income Up 56% Romanel-sur-Morges, Switzerland; Fremont, CA - October 23, 2001 - Logitech International (NASDAQ:LOGIY) (Switzerland:LOGN, LOGZ) today posted record quarterly results. For the second quarter ended September 30, 2001, revenue reached $227.8 million, a 20 percent growth over last year's Q2 sales of $190.6 million. Net income reached $13.9 million ($0.28 per share/ADS), compared with $9.4 million ($0.20 per share/ADS) for the same quarter last year. Operating income of $18.7 million was 56 percent greater than operating income of $12 million for the second quarter last year. Gross margin was 35.5 percent, an improvement of more than 180 basis points year-over-year. For the six-month period ended September 30, 2001, as compared to the same period last year, total revenue grew 22 percent to $405.7 million; net income grew 41 percent to $20.3 million; and operating income grew 68 percent to $26.9 million. "As we celebrate Logitech's...
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Sep 18, 2001 Establishment of a New Company: 3Dconnexion
Subsidiary Will Focus on 3D Input Devices and Software Fremont, CA - September 18, 2001 - Logitech (NASDAQ:LOGIY)(Switzerland: LOGN, LOGZ) today announced the formation of a new company, 3Dconnexion, whose focus will be on developing and marketing input devices for the rapidly growing field of 3D motion control. The new company combines the resources of two industry leaders in Europe and the U.S. - LogiCAD 3D and Labtec®'s 3D peripheral business. Combined, they represent more than twenty years of experience in 3D motion control technology. In addition, their 3D input devices are currently de facto industry standards in the CAD/CAM sphere. Logitech has held a 49 percent share of LogiCAD 3D since 1998 and recently acquired majority control of the company. LogiCAD 3D's signature product, the Magellan™ controller, is widely used in fields such as automotive design and the aerospace industry. In fact, the original Magellan product was used in a NASA project, where it controlled a robot in...
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Jul 24, 2001 Logitech Posts Record Q1 Earnings
Revenue Up 26%; Net Income Up 27%; Operating Income Doubles Romanel-sur-Morges, Switzerland; Fremont, CA - July 24, 2001 - Logitech International (NASDAQ:LOGIY) (Switzerland:LOGN, LOGZ) today posted record first-quarter earnings, with revenue of $177.9 million, a 26 percent growth over last year's Q1 sales of $141.4 million. Net income reached $6.3 million ($1.30 per share; $0.13 per ADS), compared with $5 million for the same quarter last year. Operating income of $8.2 million was more than double that of the previous year. Gross margin was 34 percent, an improvement of 60 basis points year-over-year. "We are pleased with these strong results, which underscore the customer appeal of our product lines and validate our focus on attractive aftermarket opportunities," said Guerrino De Luca, president and chief executive officer. "Today, consumers look to enhance their existing systems with peripherals that enable them to take advantage of new technologies and applications such as...
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Jun 28, 2001 Logitech Shareholders Approve Ten-for-One Split of Registered Shares
General Assembly Appoints Ronald Croen and Peter Pfluger to Board of Directors; Company Re-Iterates Guidance for Current Quarter and FY02 Romanel-sur-Morges, Switzerland/Fremont, CA - June 28, 2001 - Logitech (NASDAQ:LOGIY) (Switzerland: LOGN, LOGZ) today announced that the Company's shareholders attending its Annual General Meeting on June 28, 2001, have approved a resolution authorizing a 10 for 1 stock split of its registered shares. The stock split will be effective on August 2, 2001. Each American Depositary Share will remain unchanged. The current ratio of ten American Depositary Shares to one registered share will change to a new ratio of one American Depositary Share to one registered share. The price of the company's registered shares traded on the SWX Swiss Exchange will adjust on the effective date of the split. Also at the Annual General Meeting, Logitech shareholders named two new directors to the Company's Board of Directors: Ronald Croen, president and chief executive...
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May 21, 2001 Logitech announces stock split of registered shares
Romanel-sur-Morges, Switzerland/Fremont, Calif. - May 21, 2001 - Logitech International (NASDAQ:LOGIY; Switzerland:LOGN, LOGZ) today announced that at the General Meeting of shareholders to be held on June 28, 2001, the company will propose a resolution authorizing a 10 for 1 stock split of its registered shares. If the resolution is adopted, the stock split will be effected shortly thereafter. Each American Depositary Share will remain unchanged. The current ratio of ten American Depositary Shares to one registered share will change to a new ratio of one American Depositary Share to one registered share. The price of the company's registered shares traded on the SWX Swiss Exchange will adjust on the effective date of the split. About Logitech Founded in 1981, Logitech designs, manufactures and markets human interface devices and software that link people to digital information and the Internet and enable them to work, play, learn and communicate more effectively in the digital world....
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May 15, 2001 Logitech International Announces Offering of Convertible Bonds
ROMANEL-SUR-MORGES, Switzerland; FREMONT, CA - May 15, 2001 - Logitech International S.A. (Nasdaq: LOGIY) ; (Switzerland: LOGN, LOGZ) announced yesterday that it offered and sold CHF 170 million (approximately $100 million USD) in convertible bonds. The terms of the convertible offering have been fixed at a coupon rate of 1% per annum and a conversion premium of 24.92%. The redemption price at maturity in the event of non-conversion has been set at 105%. The convertible bonds will be issued by Logitech (Jersey) Ltd., a wholly-owned subsidiary of Logitech International S.A., and unconditionally and irrevocably guaranteed by Logitech International S.A. The proceeds will be used primarily to refinance the short-term debt incurred in connection with acquisition of Labtec Inc. The bonds will be convertible into registered shares of Logitech International S.A., and have a five year maturity. The bonds were not offered in the U.S. or to US persons. The offered bonds will not be registered...
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Apr 24, 2001 Logitech Announces Tenth Consecutive Record Quarter, Closes Another Record Year
Annual Sales Up 24%, Net Income Up 61%, Operating Income Up 41% Romanel-sur-Morges, Switzerland; Fremont, CA - April 24, 2001 - Logitech International (NASDAQ:LOGIY) (Switzerland:LOGN, LOGZ) has delivered another record quarter, posting revenue of $197.4 million, a 12 percent growth over last year's Q4 sales of $175.9 million. Net income was $14.2 million ($3.01 per share; $0.30 per ADS), an increase of 51 percent over net income of $9.4 million posted for the same quarter last year. Fourth quarter operating income reached $16.4 million, a year-over-year increase of 20 percent. These figures exclude a $3.3 million one-time non-cash cost for the purchase of in-process R&D associated with the acquisition of Labtec. For the fiscal year, which ended on March 31, 2001, the Company's revenue reached $761.4 million, an increase of 24 percent over the previous fiscal year. Net income of $48.4 million, excluding the $3.3 million one-time non-cash cost for the purchase of in-process R&D...
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Mar 23, 2001 Logitech Completes Exchange Offer for Labtec
Fremont, CA - March 23, 2001 - Logitech International (Switzerland:LOGN, LOGZ) (NASDAQ:LOGIY) today announced that it has completed its exchange offer for all outstanding shares of Labtec Inc. (OTC BB: "LABT"). As scheduled, the exchange offer expired at midnight, New York City time, on Thursday, March 22, 2001. The exchange agent for the offer has advised Logitech that 4,304,984 shares of Labtec common stock were tendered and not withdrawn. In addition, 277,200 shares were guaranteed for delivery. Combined, this represents more than 90 percent of the total number of Labtec shares on a fully diluted basis. Logitech has accepted for payment all tendered Labtec shares, subject only to the expiration or early termination of the U.S. antitrust waiting period, which is currently scheduled to expire in the normal course at 11:59 p.m. New York City time today. Subject to such condition, Labtec stockholders who tendered their shares in the offer will receive $11.00 in cash and 0.2644 of a...
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Mar 23, 2001 Logitech Announces End of U.S. Antitrust Waiting Period For Labtec Acquisition
Fremont, CA - March 23, 2001 - Logitech International (Switzerland:LOGN, LOGZ) (NASDAQ:LOGIY) today announced that it has received early termination of the U.S. antitrust waiting period under the Hart-Scott-Rodino Act with respect to its exchange offer for all outstanding shares of Labtec Inc. (OTC BB: "LABT"). Therefore, all conditions to Logitech's acceptance for payment of tendered Labtec shares have now been satisfied. As announced earlier today, the exchange offer expired at midnight, New York City time, on Thursday, March 22, 2001. About Logitech Founded in 1981, Logitech designs, manufactures and markets human interface devices and supporting software that link people to the Internet and enable them to work, play, learn and communicate more effectively in the digital world. Logitech's interface products include Internet video cameras; input and pointing devices such as corded and cordless mice, optical trackballs and keyboards; multimedia speakers; and interactive gaming...
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Mar 20, 2001 Logitech Announces Preliminary Exchange Ratio for Labtec Exchange Offer
Fremont, CA - March 20, 2001 - Logitech International (Switzerland:LOGN, LOGZ) (NASDAQ:LOGIY) today announced in connection with its exchange offer for all outstanding shares of Labtec Inc. (OTC BB: "LABT") that, based on the recent trading prices of Logitech ADRs, Labtec stockholders who tender into the offer will receive $11.00 in cash and 0.2644 of a Logitech ADR for each outstanding share of Labtec common stock. Logitech's offer is scheduled to expire at midnight, Eastern time, on Thursday, March 22, 2001. The exchange ratio of 0.2644 may change if Logitech extends the expiration date of the offer. If Logitech extends the offer the final exchange ratio will be based on the average closing bid price of Logitech ADRs for the 20 consecutive trading days ending on the date three business days before the offer actually expires. Completion of the exchange offer remains subject to the satisfaction or waiver of the conditions to the offer. All Labtec stockholders should read the...
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Feb 7, 2001 Logitech to Acquire Labtec Inc.
Audio Solutions Will Broaden and Complement Logitech's Human Interface Device Portfolio Fremont, CA - February 7, 2001 - Logitech International (Switzerland:LOGN, LOGZ) (NASDAQ:LOGIY) today announced it has agreed to purchase Labtec Inc.(OTC BB: LABT), a Vancouver, Washington-based provider of high-technology and other peripherals and accessories for computing, communication and entertainment. Under the terms of the agreement, Logitech will commence an offer to purchase all outstanding shares of Labtec for $18 per share at closing. This offer will consist of a combination of $11 in cash and $7 in Logitech shares. Including the assumption of debt and other liabilities, this values Labtec at approximately $125 million. Logitech expects to commence the exchange offer in approximately two weeks and to consummate the exchange offer during late March or April. Labtec's operations will remain in Vancouver, functioning as a Logitech business unit. Bob Wick, president and chief executive...
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Jan 23, 2001 Logitech Posts Strongest Quarter Yet with 25% Growth in Sales, 34% Increase in Net Income
Ninth Consecutive Record Quarter for International Market Leader in Computer Interface Devices Romanel-sur-Morges, Switzerland; Fremont, CA - January 23, 2001 - Logitech International (Switzerland:LOGN, LOGZ) (NASDAQ:LOGIY) continued to deliver solid growth, bucking trends in the high-tech sector with consolidated sales of $232 million and net income of $19.9 million for the company's third fiscal quarter of FY01, which ended December 31, 2000. Earnings per share were $4.24 ($0.42 per ADS). This compares with sales of $185.4 million and net income of $14.9 million ($3.43 per share - $0.34 per ADS) for the same period last year. Gross margin at 34.6% represents a sequential growth of 90 basis points; operating income of $25.5 million showed a 25% year-over-year growth. Retail sales, which now account for 80% of Logitech's business, increased by 31% over last year, reflecting both the Company's strong holiday performance and the attractiveness of its after-market product offerings...
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