Logitech Delivers Best Quarter Ever

Logitech Delivers Best Quarter Ever

Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced its best-ever quarterly results, posting record profits and margins, and the Company´s thirty-third consecutive quarter of double-digit revenue growth. Sales for the third quarter of Fiscal Year 2007, ended Dec. 31, 2006, were $659 million, up 15 percent from $574 million for the same quarter one year ago.

GAAP operating income was $100 million, an increase of 23 percent over Q3 last year, and includes $4.6 million in costs for stock-based compensation. GAAP net income, including $4.4 million in costs for stock-based compensation (net of related tax benefit), was $94 million ($0.49 per share), up 32 percent year over year. GAAP gross margin was 36.2 percent.

Non-GAAP operating income, which excludes stock-based compensation, was $104.2 million, up 29 percent from last year´s operating income of $80.7 million. Non-GAAP net income for Q3 was $98.7 million ($0.51 per share), up 38 percent compared with net income of $71.3 million ($0.36 per share) in the prior year. Non-GAAP gross margin was 36.3 percent, compared to 32.3 percent for the same quarter last year — a year-over-year improvement of 400 basis points.

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