LOGITECH INTERNATIONAL SA - Shareholder.com

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Table of Contents LOGITECH INTERNATIONAL S.A. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (In thousands) Additional Accumulated March 31, 2004 Net income Cumulative translation adjustment Deferred realized hedging gains Total comprehensive income Tax benefit from exercise of stock options Purchase of treasury shares Sale of shares upon exercise of options and purchase rights March 31, 2005 Net income Cumulative translation adjustment Change in unrealized gain on investment, net of tax of $1,659 Deferred realized hedging loss Total comprehensive income Tax benefit from exercise of stock options Purchase of treasury shares Sale of shares upon exercise of options and purchase rights Conversion of convertible debt March 31, 2006 Net income Cumulative translation adjustment Change in unrealized gain on investment, net of tax of $601 Registered shares Shares Amount 191,606 $ 33,370 — — — — — — — — — — — — 191,606 $ 33,370 — — — — — — — — — — — — — — — — 191,606 $ 33,370 — — — — — paid-in capital $ 132,797 — — — 10,157 — (17,209 ) $ 125,745 — — — — 15,714 — (46,716 ) 5,596 $ 100,339 — — — Treasury shares Shares Amount 11,606 $ (102,397 ) — — — — — — — — 11,100 (134,525 ) (8,064 ) 63,194 14,642 $ (173,728 ) — — — — — — — — — — 12,276 (241,352 ) (7,066 ) 95,922 (10,897 ) 133,078 8,955 $ (186,080 ) — — — — — — other Retained comprehensive earnings loss $ 435,387 $ (42,077 ) 149,266 — — (2,522 ) — 708 — — — — — — $ 584,653 $ (43,891 ) 181,105 — — (3,314 ) — 19,611 — (617 ) — — — — — — — — $ 765,758 $ (28,211 ) 229,848 — — 9,695 — (10,211 ) Total 457,080 149,266 (2,522 ) 708 147,452 10,157 (134,525 ) 45,985 $ 526,149 181,105 (3,314 ) 19,611 (617 ) 196,785 15,714 (241,352 ) 49,206 138,674 $ 685,176 229,848 9,695 (10,211 ) Reclassification adjustment for net realized gains on investment, net of tax of $1,058 Deferred realized hedging loss Total comprehensive income Adoption of SFAS 158, net of tax of $859 Tax benefit from exercise of stock options Purchase of treasury shares Sale of shares upon exercise of options and purchase rights — — — — — — — — — — — — — — — 14,668 — (62,396 ) — — — — 5,610 (5,201 ) — — — — (138,095 ) 107,102 — — — — — — (9,400 ) 697 (2,728 ) — — — (9,400 ) 697 220,629 (2,728 ) 14,668 (138,095 ) 44,706 Share-based compensation expense related to employee stock options and stock purchase plan March 31, 2007 — 191,606 — $ 33,370 $ 20,168 72,779 — 9,364 — $ (217,073 ) — $ 995,606 $ — (40,158 ) 20,168 $ 844,524 The accompanying notes are an integral part of these consolidated financial statements. F-7
Table of Contents Note 1 — The Company LOGITECH INTERNATIONAL S.A. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Logitech International S.A. is a world leader in personal peripherals for personal computers and other digital platforms, developing and marketing innovative products in PC navigation, Internet communications, digital music, home-entertainment control, interactive gaming and wireless devices. For the PC, the Company’s products include mice, trackballs, keyboards, gaming controllers, multimedia speakers, headsets, webcams and 3D control devices. For digital music devices, the Company’s products include speakers and headphones. For gaming consoles, the Company offers a range of controllers and other accessories. In addition, Logitech offers wireless music solutions for the home and advanced remote controls for home entertainment systems. The Company generates revenues from sales of its products to a worldwide network of retail distributors and resellers and to original equipment manufacturers (“OEMs”). The Company’s sales to its retail channels comprise the large majority of its revenues. Logitech was founded in Switzerland in 1981, and in 1988 listed its registered shares in an initial public offering in Switzerland. In 1997, the Company sold shares in a U.S. initial public offering in the form of American Depositary Shares (“ADSs”) and listed the ADSs on the Nasdaq Global Select Market. In October 2006, the Company terminated its ADS program, exchanged its Nasdaq-listed ADSs for Logitech shares, and continued its Nasdaq listing, as a result of which Logitech shares trade on both the Nasdaq Global Select Market and the SWX Swiss Exchange. The trading symbol for Logitech shares is LOGI on Nasdaq and LOGN on SWX. The exchange of the Nasdaq-listed ADSs for Logitech shares was a one-for-one exchange and had no impact on financial statement or per share amounts. The Company’s registered office is located in Apples, Switzerland. The Company has manufacturing facilities in Asia and offices in major cities in North America, Europe and Asia Pacific. Note 2 — Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and comply with Swiss law. In the opinion of management, these financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the periods presented. Certain prior year financial statement amounts have been reclassified to conform to the current year presentation with no impact on previously reported net income. Fiscal Year The Company’s fiscal year ends on March 31. Interim quarters are thirteen-week periods, each ending on a Friday. For purposes of presentation, the Company has indicated its quarterly periods as ending on the month end. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect reported amounts of assets, liabilities, net sales and expenses, and the disclosure of contingent assets and liabilities. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ from those estimates. F-8
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LOGITECH INTERNATIONAL SA FORM 20-F
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Table of Contents Part I TABLE OF C
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Table of Contents PART I ITEM 1. ID
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Table of Contents The following tab
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Table of Contents market, and a tre
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Table of Contents enforcement of le
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Table of Contents If we do not succ
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Table of Contents Labtec - Audio. I
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Table of Contents • The One-Touch
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Table of Contents wireless rear sat
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Table of Contents such as Popular M
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Page 27 and 28: Table of Contents Audio The Company
Page 29 and 30: Table of Contents Customer Service
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Page 33 and 34: Table of Contents product throughou
Page 35 and 36: Table of Contents We base our estim
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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
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Page 49 and 50: Table of Contents During fiscal yea
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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
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Page 65 and 66: Table of Contents ITEM 17. FINANCIA
Page 67 and 68: Table of Contents SIGNATURES The re
Page 69 and 70: Table of Contents REPORT OF THE IND
Page 71 and 72: Table of Contents LOGITECH INTERNAT
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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
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Page 115 and 116: (4) Mr. Okamoto will retire from th
Page 117 and 118: Compensation Committee The Compensa
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Page 121 and 122: eight years at Weiser Lock, a divis
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proceedings that may arise by reaso
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5.7 Additional Fees and Remuneratio
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Shareholders is sent and re-opens o
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Independent Registered Public Accou
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LOGITECH INTERNATIONAL S.A. Consoli
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I, Mark J. Hawkins, certify that: C
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