Logitech International achieved 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.

Additional highlights during the Company´s second quarter included:

Increase of 66 percent in retail sales of cordless products in comparison to the prior year.
50-percent growth in shipments of retail video cameras over the prior year, driven by powerful new applications such as video instant messaging.
Introduction of several new mice, including a dual-sensor optical mouse and an additional cordless optical mouse to complement the highly successful Cordless MouseMan® Optical premium product with a value-priced, ambidextrous model.
Launch of a line of newly designed cordless keyboards featuring Internet navigation and "zero-degree tilt" for maximum comfort and aesthetic value.
New Labtec® products in retail outlets worldwide.
Opening of a new Asia Pacific sales and marketing headquarters in Hong Kong, in response to significant opportunities in the Chinese market.
Launching of new European outsourcing and warehousing facilities as an initial step toward an expanded manufacturing and supply chain strategy designed to speed up regional response time and deliver greater supply chain flexibility.
The Company reiterated its financial guidance for fiscal 2002, stating that it expects full fiscal year sales to grow by approximately 25 percent over fiscal 2001, with operating income increasing by 40 to 45 percent. For the third quarter ending December 31, 2001, the Company expects sales to grow by 20 to 25 percent and operating income to increase by approximately 40 percent over third quarter fiscal 2001.