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FREMONT, Calif., Jan. 26, 2011 and MORGES, Switzerland, Jan. 27, 2011 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the third quarter of Fiscal Year 2011.
Sales for Q3 FY 2011 were $754 million, up 22 percent from $617 million in the same quarter last year. Excluding the unfavorable impact of exchange rate changes, sales increased by 26 percent. Operating income was $76 million, an increase of 30 percent compared to $58 million in the same quarter a year ago. Net income for Q3 was $65 million ($0.36 per share) compared to $57 million ($0.32 per share) in Q3 of FY 2010. Gross margin for Q3 FY 2011 was 36.0 percent, up from 33.9 percent one year ago.
Logitech’s retail sales for Q3 FY 2011 grew by 17 percent year over year, with an increase in Asia of 51 percent, an increase in the Americas of 31 percent, and a decrease in EMEA of 1 percent. OEM sales increased by 18 percent. The LifeSize division contributed 5 percentage points to the Company’s Q3 FY 2011 sales growth compared to the prior year.
“We are very pleased with our Q3 performance, which included our highest-ever quarterly sales and strong year-over-year growth in both sales and operating income,” said Gerald P. Quindlen, Logitech president and chief executive officer. “All of our retail product categories contributed to our sales growth, with double-digit increases in remote controls, pointing devices, video and gaming. OEM sales made a very solid contribution, and the momentum continued for our LifeSize division, which delivered the highest-ever quarterly sales in its history.
“A highlight of the quarter was the launch of Logitech Revue with Google TV and related peripherals. We are confident about the long-term potential of the Google TV platform and look forward to continued enhancements around the platform as we work with Google to push periodic over-the-air software updates.”
Outlook
For Fiscal Year 2011, ending March 31, 2011, Logitech has increased its sales outlook from the previous range of $2.35 to $2.4 billion to the new range of $2.4 to $2.42 billion. The target for operating income for the full year remains in the range of $170 to $180 million. Expected gross margin continues to be approximately 36 percent. The expected tax rate has been lowered to approximately 14 percent.
Earnings Teleconference and Webcast
Logitech will hold an earnings teleconference on Thursday, Jan. 27, 2011 at 8:30 a.m. Eastern Standard Time and 14:30 Central European 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).
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This press release contains forward-looking statements, including the statements regarding anticipated sales, operating income, gross margin and tax rate for FY 2011, and the long-term potential and enhancements for the Google TV platform. 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: the demand of our customers and our consumers for our products and our ability to accurately forecast it; 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 consumer reaction to and demand for the Google TV platform and our products for it are less positive than we expect, or if Google fails to support or continue the Google TV platform; the sales mix among our lower- and higher-margin products and our geographic sales mix; if our product introductions and marketing activities do not result in the sales and profitability growth we expect, or when we expect it; if we fail to take advantage of trends in the consumer electronics and personal computers industries, including the growth of mobile computing devices such as smartphones and tablets, or if significant consumer demand for peripherals to use with tablets and other mobile devices does not develop; if there is a deterioration of business and economic conditions or significant fluctuations in currency exchange rates; 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 Quarterly Report on Form 10-Q for the quarters ended June 30, 2010 and September 30, 2010, available at www.sec.gov. Logitech does not undertake to update any forward-looking statements.
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Full View / NID: 36459 / Submitted by: The Zilla of Zuron
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As the 2011 Macworld Conference & Expo gears up, rumors are flying about Apple’s anticipated new tablet, which people are calling the iPad 2, particularly following this recent Engadget article. The original iPad released last year rocked the consumer tech market—creating its own playing field and spurring a consumer buying frenzy! So will Apple indeed [...]
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Full View / NID: 36453 / Submitted by: The Zilla of Zuron
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The Official Pattern Release or OPR is Trend Micro's latest compilation of patterns for identified viruses. It is guaranteed to have passed a series of critical tests to ensure that customers get optimum protection from the latest virus threats.
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Full View / NID: 36449 / Submitted by: The Zilla of Zuron
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This unified driver has been further enhanced to provide the highest level of power, performance, and reliability. The ATI Catalyst™ software suite is the ultimate in performance and stability.
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Full View / NID: 36448 / Submitted by: TACKtech Team
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This unified driver has been further enhanced to provide the highest level of power, performance, and reliability. The ATI Catalyst™ software suite is the ultimate in performance and stability.
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Full View / NID: 36447 / Submitted by: TACKtech Team
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Spybot - Search & Destroy detects and removes spyware, a relatively new kind of threat not yet covered by common anti-virus applications. Spyware silently tracks your surfing behaviour to create a marketing profile for you that is transmitted without your knowledge to the compilers and sold to advertising companies. If you see new toolbars in your Internet Explorer that you have not intentionally installed, if your browser crashes inexplicably, or if your home page has been "hijacked" (or changed without your knowledge), your computer is most probably infected with spyware. Even if you do not see the symptoms, your computer may be infected, because more and more spyware is emerging. Spybot-S&D is free, so there is no harm giving it a try to see if something has invaded your computer.
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Full View / NID: 36446 / Submitted by: The Zilla of Zuron
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Adding 600 new threats.
Keep your AVG software up-to-date by downloading the latest updates. No matter if you are using AVG Antivirus, Internet Security or another product, you are better protected with regular updates.
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Full View / NID: 36445 / Submitted by: The Zilla of Zuron
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Edinburgh, 26 January 2011: Exterity, the Building IPTV specialist, today announces the global launch of its new AvediaPlayer receiver. The r9210 offers versatility, control and convenience when connecting TV and AV displays to an organisation's Local Area Network (LAN) for live and on-demand access to TV and video streams. The r9210 has been designed to integrate with new and legacy equipment and is easily integrated with specialist equipment that does not rely solely on the...
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Full View / NID: 36444 / Submitted by: The Zilla of Zuron
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Adding 907 new threats.
Keep your AVG software up-to-date by downloading the latest updates. No matter if you are using AVG Antivirus, Internet Security or another product, you are better protected with regular updates.
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Full View / NID: 36443 / Submitted by: The Zilla of Zuron
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Start the New Year off right by staying healthy using these Intel AppUp SM center apps. CalFoo helps determine your daily calorie intake and the caloric content of individual foods so that you can more easily manage your weight. 8 Glass a Day helps you stay hydrated and Desi Nuskhe is a free app featuring Indian home remedies for common sicknesses. |
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Full View / NID: 36671 / Submitted by: The Zilla of Zuron
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Girls’ Generation, one of Korea’s most popular pop groups, debuted its new song, ‘Visual Dreams’, with concepts and lyrics inspired by Intel’s ‘Visibly Smart’ 2nd Generation Core processors. Within a week, the music video on YouTube already has a combined viewership of over 2 million. Be sure to catch the end of the video for a creative and ‘pop’ twist on the Intel bong. |
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Full View / NID: 36670 / Submitted by: The Zilla of Zuron
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HPCWire, the most recognized news site covering high performance computing (HPC), has selected Dr. Stephen Wheat, senior director, Intel High Performance Computing Platform, as one of their “ People to Watch in 2011.” This list features an elite selection of industry thought leaders who will impact the advancement of HPC technology and the HPC community at large. With more than 30 years experience in HPC, Stephen has worked on the deployment of some of the world’s most powerful supercomputers, including several Top10 and Top500 systems. |
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Full View / NID: 36669 / Submitted by: The Zilla of Zuron
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At age 16 she has furthered a treatment for cancer. For that scientific achievement, she won the Intel International Science & Engineering Fair Gordon Moore Award, its top prize of $75,000. And now, Texas resident Amy Chyao is joining First Lady Michelle Obama in her box for President Obama’s State of the Union address. Read more at Inspire. |
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Full View / NID: 36668 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36599 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36598 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36597 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36596 / Submitted by: The Zilla of Zuron
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San Diego, CA and Mahwah, NJ – January 26, 2011 – DivX®, a division of Sonic Solutions® (NASDAQ: SNIC), and Sharp Electronics Corporation today announced that Sharp will add DivX Plus™ HD Certification to its new LE835 and LE830 lines of AQUOS® Quattron™ LCDTVs as well as its new line of AQUOS Blu-ray Disc™ players, providing flawless playback of DivX MKV files in 1080p. Consumers who purchase the new Sharp devices will enjoy high-quality playback of DivX Plus HD videos and Hollywood movies in the DivX format directly on the products using any optical disc or through the SD card slot.
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Full View / NID: 36463 / Submitted by: TACKtech Team
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The Official Pattern Release or OPR is Trend Micro's latest compilation of patterns for identified viruses. It is guaranteed to have passed a series of critical tests to ensure that customers get optimum protection from the latest virus threats.
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Full View / NID: 36442 / Submitted by: The Zilla of Zuron
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Mozilla Firefox is a fast, full-featured browser for Windows that makes browsing more efficient than ever before. Firefox includes popup blocking; a tab-browsing mode that lets you open several pages in a single window; integrated Google searching; simplified privacy controls that let you cover your tracks more effectively; a streamlined browser window that shows you more of the page than any other browser; and a number of additional features that work with you to help you get the most out of your time online.
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Full View / NID: 36441 / Submitted by: TACKtech Team
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BitComet is a p2p file-sharing freeware fully compatible with Bittorrent, which is one of the most popular p2p protocol designed for high-speed distribution of 100MB or GB sized files. BitComet is a powerful, clean, fast, and easy-to-use bittorrent client. It supports simultaneous downloads, download queue, selected downloads in torrent package, fast-resume, chatting, disk cache, speed limits, port mapping, proxy, ip-filter, etc.
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Full View / NID: 36440 / Submitted by: TACKtech Team
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MOUNTAIN VIEW, Calif. – January 25, 2011– Symantec Corp. (Nasdaq: SYMC) today announced the publication of its January 2011 MessageLabs Intelligence Report. Analysis revea...
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Full View / NID: 36439 / Submitted by: The Zilla of Zuron
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SANTA CLARA, CA (Marketwire) - Last summer, NVIDIA astounded gamers with the introduction of the GeForce® GTX 460 GPU, which editors called "an incredible value"(i). Flash forward 5 months later, and NVIDIA is set to do it again with the immediate availability of the new GeForce GTX 560 Ti GPU. With average performance that is 33% faster(ii), overclocking headroom that is off the charts, and a performance per watt that puts competitive products to shame, the GeForce GTX 560 Ti is further proof as to why GeForce GTX GPUs are favored by PC gamers worldwide.
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Full View / NID: 36438 / Submitted by: The Zilla of Zuron
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Adding 409 new threats.
Keep your AVG software up-to-date by downloading the latest updates. No matter if you are using AVG Antivirus, Internet Security or another product, you are better protected with regular updates.
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Full View / NID: 36437 / Submitted by: The Zilla of Zuron
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Turn any file into web content and publish to millions or share with just one personCOPENHAGEN, 25 January 2011 - Danish start-up Ge.tt, an online browser-based file publishing and sharing service, today launches its new tool that makes sharing all types of materials quick and easy.Ge.tt lets users turn any type of file, no matter how large, into web content and publish it in seconds within a browser or email. Users can also share files...
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Full View / NID: 36435 / Submitted by: The Zilla of Zuron
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Adding 702 new threats.
Keep your AVG software up-to-date by downloading the latest updates. No matter if you are using AVG Antivirus, Internet Security or another product, you are better protected with regular updates.
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Full View / NID: 36432 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36603 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36602 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36601 / Submitted by: The Zilla of Zuron
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NOD32 Antivirus System provides well balanced, state-of-the-art protection against threats endangering your PC and enterprise systems running various platforms from Microsoft Windows 95 / 98 / ME / NT / 2000 / 2003 / XP, through a number of UNIX/Linux, Novell, MS DOS operating systems to Microsoft Exchange Server, Lotus Domino and other mail servers.
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Full View / NID: 36600 / Submitted by: The Zilla of Zuron
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