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Logitech Q4 FY 2014 Sales, Profit and Cash from Operations Exceed Expectations

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full year of Fiscal Year 2014. Q4 FY 2014 sales were $485 million, up 3 percent over the prior year. "Our Q4 performance was strong, with sales, profit and cash generation better than expected," said Bracken Darrell, Logitech president and chief executive officer. "Q4 sales in our Growth category - PC Gaming, Tablet and Other Accessories, and Mobile Speakers - were up nearly 50 percent. "At the start of our fiscal year we said we would deliver strong sales in our Growth category, reduce operating expenses and improve profitability. We delivered on our commitments across the board, concluding FY 2014 ahead of our turnaround plan."

Logitech Announces the K830 Illuminated Keyboard

Today Logitech introduced the Logitech Illuminated Living-Room Keyboard K830 to brighten your connected-TV experience. The rechargeable keyboard features backlit keys, an integrated touchpad, and advanced wireless connectivity, so you can type and click from your couch or bed - even in the dark.

"More and more consumers want an easy way to access movies, TV programs, music and photos with their PC connected to a TV," said Charlotte Johs, global vice president of brand development for PC accessories at Logitech. "Our new Illuminated Living-Room Keyboard K830 is designed with this setup in mind. Backlit keys and a premium aesthetic that blends into the living room make it a stand-out choice for people with connected TVs."

Logitech Launches First-of-Its-Kind Logitech G Tunable Gaming Mouse

Logitech, a leading innovator of gaming peripherals, today introduced its newest Logitech G mouse, the Logitech G502 Proteus Core Tunable Gaming Mouse. This extremely customizable mouse combines the world's first 12,000 DPI sensor with advanced surface and weight tuning to help you maximize your victory potential. "I've been super excited to use this mouse in public, I got to test it and it felt great! Was super comfortable and just fit perfectly to my hand," said Hai Lam, team captain for Cloud 9. "Adjusting the DPI is super easy and very flexible. This is probably my favorite mouse to date!" As with every product in the Logitech G lineup, Proteus Core reflects Logitech's commitment to putting science to work to help you win.

Logitech Introduces Harmony Keyboard Control

Today Logitech announced the Logitech Harmony Smart Keyboard, a keyboard and touchpad combination specially designed for controlling streaming media in your living room. This new keyboard simplifies text entry, so you can search for shows, navigate menus and browse the Web on a PC or Mac connected to your TV or Internet-connected media devices, such as Apple TV, Roku or Xbox One.

"Internet-connected and streaming-media devices seem to deliver limitless entertainment options, however their accompanying remotes struggle to keep up with the text entry needed to search for selections," said Chad Thompson, senior director of worldwide marketing and product management for Logitech's digital home business group. "Our goal with the Logitech Harmony Smart Keyboard is to unite Logitech's expertise in both universal remotes and keyboards to provide a fast and simple way to search for and navigate through the vast content options available through the living room's entertainment devices."

Logitech Unveils Breakthrough Group Video Conferencing Solution

Logitech today introduced a breakthrough video conferencing solution. While a typical video conferencing setup can cost $7,000 or far more, the Logitech ConferenceCam CC3000e - at under $1,000 - is a powerful yet affordable video conferencing solution that can turn any small or midsize conference room into a video-enabled collaboration room. Optimized for workgroups of six to 10 people, the Logitech ConferenceCam CC3000e is an all-in-one solution with 1080p HD video, enterprise-quality audio and the ability to easily connect to a laptop or thin client to give workers the productivity benefits of crystal-clear, face-to-face communication.

With its flexibility and affordability, the Logitech ConferenceCam CC3000e empowers companies of all sizes to realize the benefits of video collaboration. "The number of meeting rooms and collaboration spaces has exploded in new office environments. Yet the cost and complexity of deployment and use of current video conferencing solutions has made it impossible to equip 95 percent of these rooms, forcing employees to revert to voice," said Eric Kintz, Logitech senior vice president. "The ConferenceCam CC3000e is a breakthrough in group video conferencing allowing people to collaborate on their own terms anywhere, any time and with any device and any application."

Logitech Delivers Better-Than-Expected Q3 FY 2014 Results

Logitech International (SIX:LOGN)(Nasdaq:LOGI) today announced financial results for the third quarter of Fiscal Year 2014, with better-than-expected total sales of $628 million, up 2 percent compared to the third quarter of the prior year. Q3 GAAP operating income was $53 million, with GAAP earnings per share (EPS) of $0.30 compared to a loss a year ago. Q3 non-GAAP operating income was $67 million, with non-GAAP EPS of $0.35, up 84 percent year over year. Cash flow from operations for Q3 was $94 million.

"We're pleased by our solid Q3 performance, with both sales and profit growth," said Bracken P. Darrell, Logitech president and chief executive officer. "We're encouraged by the robust sales in our growth categories, as well as the success of our ongoing initiatives to improve profitability, which includes the earlier-than-expected return to profitability of LifeSize. We still have more work ahead, but our turnaround is on track as we continue to build a faster and more profitable Logitech."

Logitech Announces Better-Than-Expected Q2 FY 2014 Results

Logitech International today announced financial results for the second quarter of Fiscal Year 2014, with better-than-expected revenue of $532 million, down 3 percent compared to second quarter of the prior year.
  • Q2 GAAP operating income was $17 million, and GAAP EPS was $0.09
  • Q2 non-GAAP operating income was $37 million, and non-GAAP EPS was $0.20
  • Year-to-date GAAP operating income was $17 million, and GAAP EPS was $0.10
  • Year-to-date non-GAAP operating income was $49 million, and non-GAAP EPS was $0.26

Logitech Releases the Wireless Mouse M560

Logitech has now introduces the M560, a wireless mouse that comes equipped with a Windows 8 menu button, located right under the scroll wheel , enabling quick access to the App Bar, Charms Bar, Desktop and Start Screen.

Coming in two color version - black and gray, the mouse features soft, rubber grips, two thumb buttons, and requires one AA battery to power it up. The Wireless Mouse M560 is bundled with a Nano receiver, it has a three-year warranty, and it costs $ 39.99.

Logitech Ultimate Ears Delivers Huge Sound with the New UE MINI BOOM

Today Ultimate Ears introduced a major upgrade to the popular Logitech UE Mobile Boombox with UE MINI BOOM, a surprisingly small speaker that delivers unexpectedly huge sound in stylish and vibrant color options. The UE MINI BOOM takes the Ultimate Ears expertise in filling small speakers with big sound to a new level, with a personal speaker with clear highs and deep bass, giving you great stereo sound wherever and whenever you want it.

With a battery that lasts up to 10 hours, simple controls and Bluetooth connectivity, the UE MINI BOOM is the perfect music companion, whether you're streaming music videos, hanging out with friends or traveling. It streams big sound from any Bluetooth-enabled device from up to 50 feet away, and with such huge sound, you'll need the extra distance. Thanks to its convenient micro-USB charger, it's easy to find a charge for your UE MINI BOOM almost anywhere. Plus, you can wirelessly pair two UE MINI BOOM speakers together after downloading the free UE MINI BOOM app (available for iOS and Android) to double the sound.

Logitech Introduces Ultrathin Touch Mouse

Today Logitech introduced its first ultra-portable touch mouse. The slim design of the Logitech Ultrathin Touch Mouse perfectly complements today's computers, with sleek lines and a brushed aluminum body. "Our personal technology needs are evolving rapidly, and people expect better design," said Charlotte Johs, Logitech global vice president of brand development and portfolio for PC accessories. "Whether it's a computer, tablet, smartphone or touch-navigation device, people are looking for thin, modern design that works fluidly. We created the Logitech Ultrathin Touch Mouse to give people an ultra- portable mouse that complements today's MacBook and Ultrabook computers."

With its thin, feather-light design, the Logitech Ultrathin Touch Mouse easily slips into any computer sleeve or pocket. Its silky-smooth touch surface is created by an invisible coating that helps you simplify Windows 8 navigation, or take full advantage of the Multi-Touch navigation in OS X. Using Bluetooth with Logitech Easy-Switch Technology, the Logitech Ultrathin Touch Mouse can connect wirelessly to your laptop, desktop and tablet at the same time, and you can easily switch among them with the flip of a switch. The mouse is rechargeable through USB and just one minute of charge time gives you enough power to keep working for another hour (based on typical user experience).

Logitech Unveils the G602 Wireless Gaming Mouse, New Mousepads

Today Logitech introduced a mouse that redefines the boundaries of wireless gaming. The Logitech G602 Wireless Gaming Mouse combines 250 hours of non-stop lag-free wireless game play with the precision of Logitech G's exclusive Delta Zero sensor technology to help players dominate boss after boss.

And, to ensure players have the best-possible surface for their particular style of game play, Logitech has also created two new mouse pads, the Logitech G440 Hard Gaming Mouse Pad and the Logitech G240 Cloth Gaming Mouse Pad. These new mouse pads deliver optimized surfaces for both high- and low-DPI game play, respectively.

Logitech Releases Special Edition Logitech Touch Keyboard K400 in White

Logitech is proud to announce that a special edition of its popular Logitech Wireless Touch Keyboard K400 will be available in white starting this September. The special edition keyboard boasts all the features you already love in the traditional Logitech Wireless Touch Keyboard K400, including a built-in touchpad, long range wireless and plug-and-play connectivity. It's the perfect solution for browsing online and watching videos on your PC-connected-TV, and now it comes in a stylish, fresh white, to fit your clean and modern living space.

The touchpad on the Logitech Wireless Touch Keyboard K400 allows you to comfortably control and navigate your content from a distance, so there's no need for a separate mouse. The keyboard layout is also optimized for the living-room environment - it's compact, yet comfortable, giving you direct access to media and entertainment keys. The keyboard even stores vertically, making it easy to put away when not in use.

Logitech Announces the Wireless All-in-One Keyboard TK820

Today Logitech announced the expansion of its keyboard lineup with the Logitech Wireless All-in-One Keyboard TK820, a wireless keyboard with a built-in touchpad that lets you type and swipe comfortably together.

"We created the Logitech Wireless All-in-One Keyboard TK820 to combine everything you need to control and navigate your computer in one sleek keyboard," said Charlotte Johs, Logitech global vice president of brand development and portfolio for PC accessories. "This keyboard offers an innovative way to navigate, letting you type, touch and swipe with a single device."

Logitech Announces First Quarter Financial Results for FY 2014

Logitech International today announced financial results for the first quarter of Fiscal Year 2014. Sales for Q1 FY 2014 were $478 million, up 2 percent from $469 million in Q1 FY 2013, with exchange rates having no impact. Excluding those retail product categories that the Company is exiting (reported in the financial statements as "Retail - Other"), sales for Q1 FY 2014 were up 5 percent year over year. The Company posted a small operating profit compared to an operating loss of $59 million in the same quarter a year ago. Net income for Q1 FY 2014 was $ 1 million ($0.01 per share) compared to a net loss of $51 million ($0.32 per share) in the prior year. Gross margin for Q1 FY 2014 was 35.2 percent, up from 31.0 percent a year ago.

The Company's total retail sales for Q1 increased by 5 percent year over year, up 12 percent in the Americas and 4 percent in Asia, and down 3 percent in EMEA. Excluding "Retail - Other," Logitech's retail sales for Q1 FY 2014 increased by 8 percent over the prior year. OEM sales decreased by 6 percent and sales for the LifeSize division decreased by 18 percent.

Logitech Announces Bluetooth Speakers Z600

Today Logitech introduced the Logitech Bluetooth Speakers Z600, an elegantly designed pair of wireless stereo speakers that complement the sleek good looks of Mac and Ultrabook computers. With these speakers you can effortlessly stream music and other audio from your computer, smartphone or tablet. Three devices can be active at the same time, and switching among them is as simple as pressing pause on one and play on another.

"The Logitech Bluetooth Speakers Z600 were designed to resemble an object of art using shapes, materials, and colors that meld with the modern living space and complement the look of ultrathin laptops," said Charlotte Johs, Logitech global vice president of brand development and portfolio for PC accessories. "And with built-in Bluetooth connectivity, a first for Logitech multimedia speakers, these speakers are ideal for today's wireless, multi-device lifestyle."

CyberPowerPC Announces Zeus HTPC Series

CyberPower Inc., a global manufacturer of custom gaming PCs, today announced the Zeus HTPC, a sleek new series of Windows-based home-theatre PCs that can double as your primary desktop. The Zeus HTPC combines the compact and stylish design of a home theatre system with the power and performance of a gaming PC. The Zeus HTPC is your DVR, enthusiast home theatre PC, gaming console and DVD/Blu-Ray Player all in one thin micro-ATX chassis that fits perfectly in your home theatre stack or on your desk. The chassis utilizes a passive cooled heatsink technology paired with razor fins for maximum heat dissipation and minimal noise. CYBERPOWERPC will offer six Zeus HTPC models.

The Zeus HTPC is a multimedia monster powered by your choice of a 4th Generation Intel Core processor or AMD APU to provide easy access to all your favorite multimedia applications from PC gaming and movie streaming to surfing the web. Combined with discrete graphics with the AMD Radeon HD 7750 users can dive into the latest PC gaming titles in full HD and beautifully rendered graphics in rich detail.

Logitech Announces Fourth Quarter and Full-Year Financial Results for FY 2013

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full year of Fiscal Year 2013.

Sales for Q4 FY 2013 were $469 million, down 12 percent from $532 million in Q4 FY 2012. Excluding the unfavorable impact of exchange rates, sales were down by 11 percent compared to the prior year. The Company posted an operating loss for the fourth quarter of $37 million compared to operating income of $24 million in the same quarter a year ago. The operating loss included $16 million in restructuring charges and $6 million related to the impairment of goodwill and other assets. The net loss for Q4 FY 2013 was $36 million ($0.23 per share) compared to net income of $28 million ($0.17 per share) in the prior year. Gross margin for Q4 FY 2013 was 33.5 percent, down from 36.4 percent a year ago.

Logitech Announces Departure of CFO Erik K. Bardman

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that Erik K. Bardman, senior vice president of finance and chief financial officer, will leave Logitech, effective April 26, 2013. Mr. Bardman, who has been with Logitech since October 2009, will join Roku as chief financial officer. Logitech is conducting a search of internal and external candidates for Mr. Bardman's replacement.

"Erik has been an asset to Logitech over the past three and a half years," said Bracken P. Darrell, Logitech president and chief executive officer. "We are sorry to see him leave but pleased that he has built a strong team that can continue to execute on our cost savings and turnaround as we identify his successor. We wish him the very best in his new opportunity."

Logitech Renews Commitment to PC Gaming, Introduces New Lineup

Today Logitech announced the new Logitech G line, reflecting its new approach to PC gaming. The new lineup includes six redesigned mice and keyboard favorites and two new headsets.

"With Logitech G, we put our passion for science to work for you," said Ehtisham Rabbani, general manager of the Logitech gaming business group. "Just as gamers are compelled to beat levels, our engineers are compelled to test scientific theories. For close to 20 years the relentless pursuit of what's next has been our game – and we're pretty darn good at it. With Logitech G we will continue to push the limits of speed, precision, reliability – even intuitiveness. We do it because gamers expect us to push the limits as far as they do. Every inspired design choice and late-night engineering argument serves but one purpose, to help gamers play their best. When science wins – gamers win."

Logitech Realigns Organization with Strategic Priorities

Logitech International today announced an organizational alignment to the strategic priorities outlined by newly appointed CEO Bracken P. Darrell last month. These priorities include increasing focus on mobility products, improving profitability in PC-related products and enhancing global operational efficiencies. This alignment to the strategic priorities creates incremental cost savings of approximately $16 to $18 million in operating expenses in Fiscal Year 2014, a result of a workforce reduction. This is in addition to the previously announced $80 million savings in annual operating costs (operating expenses plus costs of goods sold) for Fiscal Year 2014 related to the Company's April 2012 restructuring.

"As we align the organization with our strategy to become a faster, more profitable company, we have also created opportunities to become more focused, improve operational effectiveness and even deliver additional cost savings that will contribute to improved profitability," said Bracken P. Darrell, Logitech president and chief executive officer. "These actions support our goals to develop outstanding mobility- and PC-related products, streamline our cost structure and achieve faster times to market."

Logitech Announces Business Webcam C930e

Logitech today announced the Logitech Webcam C930e, taking desktop video for business to the next level with industry-first features that include an extra-wide 90-degree field of view, support for the H.264 SVC and UVC 1.5 video encoding standards and high-definition digital pan-tilt-zoom.

The full 1080p high-definition Logitech C930e delivers enterprise-grade video collaboration with the widest field of view available in a desktop webcam for business, making it possible – for example – to show a full whiteboard on an office wall during a brainstorming session. The Carl Zeiss-certified glass lens is engineered to avoid the "fish eye" distortion that often detracts from wide-angle images.

Logitech Announces Third Quarter Results for FY 2013

Logitech International today announced financial results for the third quarter of Fiscal Year 2013. Sales for Q3 FY 2013 were $615 million, down 14 percent from $715 million in Q3 FY 2012, with no material impact from exchange rates. The company posted an operating loss of $180 million, which included a non-cash goodwill impairment charge, estimated to be $211 million, announced on January 22, 2013. Net loss for Q3 FY 2013 was $195 million ($1.24 per share) compared to net income of $55 million ($0.32 per share) in Q3 FY 2012. Gross margin for the quarter was 34.2 percent, compared to 36.2 percent in the same quarter one year ago. Excluding the aforementioned Q3 FY 2013 impairment charge, Q3 FY 2013 non-GAAP operating income would have been $31 million and non-GAAP net income would have been $16 million.

Logitech's retail sales for Q3 FY 2013 decreased by 14 percent year over year, down 8 percent in the Americas, 11 percent in Asia and 20 percent in EMEA. Year over year, OEM sales decreased by 23 percent and sales for the LifeSize division decreased by 4 percent.

Logitech Announces Peripherals for Cisco Jabber

Logitech today introduced a unique enterprise-grade keyboard with integrated phone and video call controls, designed exclusively for Cisco Jabber, making it fast and easy to communicate through a computer or thin client in virtual workspace environments. The Logitech UC Solution for Cisco 725-C brings together three new products: the innovative Logitech UC Keyboard K725-C with dedicated keys for managing calls on a computer or virtual desktop, the full-HD Logitech C920-C Webcam and the ergonomically shaped Logitech M525-C Wireless Mouse.

As a Preferred Solution Developer in the Unified Communications category of the Cisco Developer Network, Logitech has completed interoperability verification testing required by Cisco for the Logitech UC Solution for Cisco 725-C.

Bracken P. Darrell Becomes Chief Executive Officer of Logitech

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission confirming that Bracken P. Darrell has become the chief executive officer of the company, effective January 1, 2013, as part of an executive leadership transition planned when he joined Logitech as president in April 2012. Mr. Darrell succeeds Guerrino De Luca, who continues as chairman of the board. The Current Report on Form 8-K is available here.

Logitech Debuts Bluetooth Easy-Switch Keyboard and Rechargeable Trackpad

Today Logitech announced the expansion of its Mac lineup with two new products: the Logitech Bluetooth Easy-Switch Keyboard for Mac, iPad and iPhone and the Logitech Rechargeable Trackpad for Mac.

Each product brings new dimensions to the way you navigate and control your favorite Apple products. The Logitech Bluetooth Easy-Switch Keyboard features Logitech Easy-Switch technology – similar to the popular Logitech Bluetooth Illuminated Keyboard K810 – so you can easily go from typing an e-mail on your Mac to taking notes on your iPad to replying to a text on your iPhone, by simply pressing a button. In addition, the Logitech Rechargeable Trackpad gives you the full set of Mac OS multi-touch gestures on a smooth glass surface.

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