LOGITECH INTERNATIONAL SA - Shareholder.com

More documents

Recommendations

Info

Table of Contents LOGITECH INTERNATIONAL S.A. INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Report of the Independent Registered Public Accounting Firm to the General Meeting of Logitech International S.A., Apples, Switzerland F-2 Consolidated Statements of Income – Years Ended March 31, 2007, 2006 and 2005 F-4 Consolidated Balance Sheets – March 31, 2007 and 2006 F-5 Consolidated Statements of Cash Flows – Years Ended March 31, 2007, 2006 and 2005 F-6 Consolidated Statements of Changes in Shareholders’ Equity – Years Ended March 31, 2007, 2006 and 2005 F-7 Notes to Consolidated Financial Statements F-8 Unaudited Quarterly Financial Data F-32 F-1 Page
Table of Contents REPORT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE GENERAL MEETING OF LOGITECH INTERNATIONAL S.A., APPLES, SWITZERLAND To the Shareholders of Logitech International S.A.: We have completed an integrated audit of Logitech International S.A.’s March 31, 2007 consolidated financial statements and of its internal control over financial reporting as of March 31, 2007 and audits of its March 31, 2006 and March 31, 2005 consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States) and with Swiss Auditing Standards. Our opinions, based on our audits, are presented below. Consolidated financial statements and financial statement schedule In our opinion, the consolidated financial statements listed in the index appearing on F-1 present fairly, in all material respects, the financial position of Logitech International S.A. and its subsidiaries at March 31, 2007 and March 31, 2006, and the results of their operations and their cash flows for each of the three years in the period ended March 31, 2007 in conformity with accounting principles generally accepted in the United States of America and comply with Swiss law. In addition, in our opinion, the financial statement schedule on S-1 presents fairly, in all material respects, the information set forth therein when read in conjunction with the related consolidated financial statements. These financial statements and financial statement schedule are the responsibility of the Company’s Board of Directors and management. Our responsibility is to express an opinion on these financial statements and financial statement schedule based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States) and with Swiss Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. We recommend that the consolidated financial statements submitted to you be approved. As discussed in Note 4 and Note 13 to the consolidated financial statements, the Company adopted Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment as of April 1, 2006 and Statement of Financial Accounting Standards No. 158, Employer’s Accounting for Defined Benefit Pension and Other Postretirement Plans as of March 31, 2007. Internal control over financial reporting Also, in our opinion, management’s assessment, included in Management’s Annual Report on Internal Control over Financial Reporting appearing under Item 15(b) in this Form 20-F, that the Company maintained effective internal control over financial reporting as of March 31, 2007 based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), is fairly stated, in all material respects, based on those criteria. Furthermore, in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of March 31, 2007, based on criteria established in Internal Control – Integrated Framework issued by the COSO. The Company’s management, with the oversight of the Board of Directors, is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting. Our responsibility is to express opinions on management’s assessment and on the effectiveness of the Company’s internal control over financial reporting based on our audit. We conducted our F-2
Page 1 and 2:
LOGITECH INTERNATIONAL SA FORM 20-F
Page 3 and 4:
Table of Contents Part I TABLE OF C
Page 5 and 6:
Table of Contents PART I ITEM 1. ID
Page 7 and 8:
Table of Contents The following tab
Page 9 and 10:
Table of Contents market, and a tre
Page 11 and 12:
Table of Contents enforcement of le
Page 13 and 14:
Table of Contents If we do not succ
Page 15 and 16:
Table of Contents Labtec - Audio. I
Page 17 and 18: Table of Contents • The One-Touch
Page 19 and 20: Table of Contents wireless rear sat
Page 21 and 22: Table of Contents such as Popular M
Page 23 and 24: Table of Contents most new PCs can
Page 25 and 26: Table of Contents enabling a broad
Page 27 and 28: Table of Contents Audio The Company
Page 29 and 30: Table of Contents Customer Service
Page 31 and 32: Table of Contents jurisdictions. Lo
Page 33 and 34: Table of Contents product throughou
Page 35 and 36: Table of Contents We base our estim
Page 37 and 38: Table of Contents Share-Based Compe
Page 39 and 40: Table of Contents disclosures assoc
Page 41 and 42: Table of Contents sales growth in a
Page 43 and 44: Table of Contents The decrease in n
Page 45 and 46: Table of Contents Gross Profit Gros
Page 47 and 48: Table of Contents The Company’s n
Page 49 and 50: Table of Contents During fiscal yea
Page 51 and 52: Table of Contents Purchase Obligati
Page 53 and 54: Table of Contents (1) Beneficial ow
Page 55 and 56: Table of Contents SWX Swiss Exchang
Page 57 and 58: Table of Contents D. Selling Shareh
Page 59 and 60: Table of Contents Withholding Tax U
Page 61 and 62: Table of Contents If the U.S. dolla
Page 63 and 64: Table of Contents (d) Changes in In
Page 65 and 66: Table of Contents ITEM 17. FINANCIA
Page 67: Table of Contents SIGNATURES The re
Page 71 and 72: Table of Contents LOGITECH INTERNAT
Page 75 and 76: Table of Contents Note 1 — The Co
Page 79 and 80: Table of Contents Impairment of Lon
Page 97 and 98: Table of Contents Note 17 — Inter
Page 101 and 102: LOGITECH INTERNATIONAL S.A. LIST OF
Page 103 and 104: CONSENT OF INDEPENDENT REGISTERED P
Page 105 and 106: REPORT ON CORPORATE GOVERNANCE Logi
Page 107 and 108: An additional 40 million shares hav
Page 109 and 110: The Company has not issued non-voti
Page 111 and 112: Trustees of the Santa Fe Institute,
Page 113 and 114: is responsible for leading the tran
Page 115 and 116: (4) Mr. Okamoto will retire from th
Page 117 and 118: Compensation Committee The Compensa
Page 119 and 120:
the Chairman and the Chief Executiv
Page 121 and 122:
eight years at Weiser Lock, a divis
Page 123 and 124:
During 2007, stock option grants to
Page 125 and 126:
proceedings that may arise by reaso
Page 127 and 128:
5.7 Additional Fees and Remuneratio
Page 129 and 130:
Shareholders is sent and re-opens o
Page 131 and 132:
Independent Registered Public Accou
Page 133 and 134:
LOGITECH INTERNATIONAL S.A. Consoli
Page 135 and 136:
I, Mark J. Hawkins, certify that: C
show all

LOGITECH INTERNATIONAL SA - Shareholder.com

Create successful ePaper yourself

Delete template?

Save as template?