LOGI FY 2009 Earnings Report — Logitech International S.A. Revenue & Financial Results | Market Cap Arena

Logitech International S.A.LOGI

FY 2009 Earnings

Reported June 1, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$2.2B	—	$2.4B	—	-6.8%
Op. Income	$110M	—	$287M	—	-61.8%
Gross Margin	31.3%	—	35.8%	—	-4.5pp
Net Margin	4.8%	—	9.7%	—	-4.9pp
EPS (Diluted)	$0.59	—	$1.23	—	-52.0%
Free Cash Flow	$152M	—	$335M	—	-54.6%

Revenue Flow

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$1.5B
GROSS PROFIT	$691M
R&D Expenses	$129M
Selling & Marketing	$319M
General & Administrative	$113M
SG&A Expenses	$432M
Other Expenses	$0
Operating Expenses	$561M
Cost & Expenses	$2.1B
OPERATING INCOME	$110M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	$17M
INCOME BEFORE TAX	$127M
Income Tax Expense	$20M
Net Income from Continuing Ops	$107M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$107M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$107M
D&A	$52M
EBIT	$130M
EBITDA	$182M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$1.5B
GROSS PROFIT	$691M
R&D Expenses	$129M
Selling & Marketing	$319M
General & Administrative	$113M
SG&A Expenses	$432M
Other Expenses	$0
Operating Expenses	$561M
Cost & Expenses	$2.1B
OPERATING INCOME	$110M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	$17M
INCOME BEFORE TAX	$127M
Income Tax Expense	$20M
Net Income from Continuing Ops	$107M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$107M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$107M
D&A	$52M
EBIT	$130M
EBITDA	$182M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$107M
Depreciation & Amortization	$52M
Stock-Based Compensation	$25M
Deferred Income Tax	-$10M
Other Non-Cash Items	$3.0K
Change in Working Capital	$27M
OPERATING CASH FLOW	$201M
Capital Expenditure	-$48M
Acquisitions (Net)	-$64M
Purchases of Investments	-$427.0K
Sales/Maturities of Investments	$524M
Other Investing Activities	-$524M
NET CASH FROM INVESTING	-$110M
Net Debt Issuance	$0
Common Stock Repurchased	-$79M
Common Dividends Paid	$0
Other Financing Activities	$38M
NET CASH FROM FINANCING	-$41M
FREE CASH FLOW	$152M
Net Change in Cash	$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$493M
Short-Term Investments	$2M
Net Receivables	$231M
Inventory	$233M
Other Current Assets	$26M
TOTAL CURRENT ASSETS	$999M
PP&E (Net)	$104M
Goodwill	$243M
Intangible Assets	$32M
Long-Term Investments	$0
Tax Assets	$28M
Other Non-Current Assets	$16M
TOTAL NON-CURRENT ASSETS	$423M
TOTAL ASSETS	$1.4B
Account Payables	$158M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$289M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$135M
TOTAL NON-CURRENT LIABILITIES	$135M
TOTAL LIABILITIES	$424M
Common Stock	$33M
Additional Paid-In Capital	$45M
Retained Earnings	$1.3B
Treasury Stock	-$341M
Accum. Other Comp. Income	-$81M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$998M
Minority Interest	$0
TOTAL EQUITY	$998M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$0
Net Debt	-$493M