Logitech Delivers Tenth Consecutive Record Year with Strongest Q4 Ever

Logitech International (SWX:LOGN) (Nasdaq:LOGI) today announced
record Q4 sales and profits, delivering its tenth consecutive year of
double-digit revenue growth and reaching its full year revenue and
profitability goals.

For the fourth quarter of Fiscal Year 2008, ended March 31, 2008

sales were $601 million, up 17 percent from $513 million in the same
quarter last year. Operating income was $66.1 million, up 20 percent
from $55.3 million for the same quarter a year ago. Net income was
$60.3 million ($0.32 per share), up from $56.2 million ($0.29 per
share) in the prior year. Gross margin was 35.6 percent, compared to
34.5 percent in Q4 of FY 2007.

Logitech´s retail sales for Q4 grew by 15 percent year over year

increasing by 13 percent in EMEA, 8 percent in the Americas, and 58
percent in Asia Pacific. Across Logitech sales regions, retail growth
was fueled by strong sales of cordless mice (up 58 percent) and
speakers (up 24 percent). Retail video sales grew by 9 percent. OEM
sales grew by 34 percent, driven primarily by strong demand for
microphones for console gaming.

For the full fiscal year, sales were $2.4 billion, up 15 percent
from $2.1 billion in FY 2007. Operating income was $287 million, up 24
percent from $231 million a year ago. Net income was $231 million
($1.23 per share) compared to $230 million ($1.20 per share) in the
prior year. Gross margin for the fiscal year was 35.8 percent

compared to 34.3 percent in FY 2007.

"We are very pleased with our Q4 performance, including our return
to growth in the video category," said Gerald P. Quindlen, Logitech
president and chief executive officer. "Our revenue growth of 17
percent underscores the strength of our product portfolio and our
geographic diversity, both key factors in our ability to deliver
consistent growth over the last decade. The strong momentum we carry
into the new fiscal year, combined with a solid balance sheet

position us to continue delivering double-digit growth in sales and
profitability."

Outlook

For Fiscal Year 2009, ending March 31, 2009, the Company confirmed
its financial targets of 15 percent growth in both sales and operating
income. FY 2009 gross margin is expected to be above the high end of
the Company´s long-term target range of 32-34 percent. The Company´s
tax rate for the year is expected to be approximately 12 percent.

Earnings Teleconference

Logitech will hold an earnings teleconference on April 22, 2008 at
13:30 Central European Summer Time/7:30 a.m. Eastern Daylight
Time/4:30 a.m. Pacific Daylight Time to discuss these results as well
as the Company´s outlook. A live webcast and replay of the
teleconference, including presentation slides, will be available on
the Logitech corporate Web site at http://ir.logitech.com. Please
visit the Web site at least 10 minutes early to register for the
teleconference webcast.

Investor Meeting

Logitech will hold an investor meeting in New York on May 22, 2008
at 8:30 a.m. Eastern Daylight Time/16:30 Central European Summer Time.
A live video webcast and replay of the meeting will be available on
the Logitech corporate Web site at http://ir.logitech.com.

About Logitech

Logitech is a world leader in personal peripherals, driving
innovation in PC navigation, Internet communications, digital music

home-entertainment control, gaming and wireless devices. Founded in
1981, Logitech International is a Swiss public company traded on the
SWX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market
(LOGI).

This press release contains forward-looking statements, including
the statements regarding expected sales and operating income growth

gross margin and effective tax rate for Fiscal Year 2009. The
forward-looking statements in this release involve risks and
uncertainties that could cause Logitech´s actual performance and
results to differ materially from that anticipated in these
forward-looking statements. Factors that could cause actual results to
differ materially include if we fail to successfully innovate in our
current and emerging product categories and identify new feature or
product opportunities; consumer demand for our products and our
ability to accurately forecast it; the effect of pricing, product

marketing and other initiatives by our competitors, and our reaction
to them, on our sales, gross margins and profitability; our ability to
continue to implement our plan to control operating expenses while
growing sales; the sales mix among our lower- and higher-margin
products and our geographic sales mix; as well as those additional
factors set forth in our periodic filings with the Securities and
Exchange Commission, including our annual report on Form 20-F for the
fiscal year ended March 31, 2007 and our quarterly reports on Form 6-K
available at www.sec.gov. Logitech does not undertake to update any
forward-looking statements.

Logitech, the Logitech logo, and other Logitech marks are
registered in the United States and other countries. All other
trademarks are the property of their respective owners. For more
information about Logitech and its products, visit the company´s Web
site at www.logitech.com.

(LOGI - IR)

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LOGITECH INTERNATIONAL S.A.

(In thousands, except per share amounts) - Unaudited

Quarter Ended March 31

CONSOLIDATED STATEMENTS OF INCOME

2008

2007
----------------------------------------------------------------------

Net sales

$ 601,234 $ 512,734
Cost of goods sold

387,290

335,743

-----------------------
Gross profit

213,944

176,991

-----------------------

% of net sales

35.6%

34.5%

Operating expenses:

Marketing and selling

84,689

66,475

Research and development

33,462

28,432

General and administrative

29,654

26,786

-----------------------
Total operating expenses

147,805

121,693

-----------------------

Operating income

66,139

55,298

Interest income, net

3,744

3,212
Other income, net

(1,852)

3,531

-----------------------

Income before income taxes

68,031

62,041
Provision for income taxes

7,693

5,848

-----------------------

Net income

$

60,338 $

56,193

=======================

Shares used to compute net income per share:

Basic

180,636

182,738

Diluted

186,299

191,091
Net income per share:

Basic

$

0.33 $

0.31

Diluted

$

0.32 $

0.29

Other income, net for the quarter ended March 31, 2008 includes an

impairment loss of $6.9 million related to the decline in the fair

value of short-term investments.
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LOGITECH INTERNATIONAL S.A.

(In thousands, except per share amounts) - Unaudited

Twelve Months Ended

March 31

CONSOLIDATED STATEMENTS OF INCOME

2008

2007
----------------------------------------------------------------------

Net sales

$2,370,496 $2,066,569
Cost of goods sold

1,521,378

1,357,044

-----------------------
Gross profit

849,118

709,525

-----------------------

% of net sales

35.8%

34.3%

Operating expenses:

Marketing and selling

324,451

272,264

Research and development

124,544

108,256

General and administrative

113,443

98,143

-----------------------
Total operating expenses

562,438

478,663

-----------------------

Operating income

286,680

230,862

Interest income, net

15,508

8,733
Other income (expense), net

(39,374)

15,962

-----------------------

Income before income taxes

262,814

255,557
Provision for income taxes

31,788

25,709

-----------------------

Net income

$ 231,026 $ 229,848

=======================

Shares used to compute net income per share:

Basic

181,362

182,635

Diluted

187,942

190,991
Net income per share:

Basic

$

1.27 $

1.26

Diluted

$

1.23 $

1.20

Other income (expense), net for the twelve months ended March 31, 2008

includes an impairment loss of $79.8 million related to the decline

in fair value of short-term investments, and a net realized gain of

$27.8 million on the sales of short-term investments.
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LOGITECH INTERNATIONAL S.A.

(In thousands) - Unaudited

March 31

March 31

CONSOLIDATED BALANCE SHEETS

2008

2007
----------------------------------------------------------------------

Current assets

Cash and cash equivalents

$ 482,352 $ 196,197

Short term investments

3,940

214,625

Accounts receivable

373,619

310,377

Inventories

245,737

217,964

Other current assets

60,668

68,257

---------- ----------

Total current assets

1,166,316 1,007,420
Property, plant and equipment

104,461

87,054
Intangible assets

Goodwill

194,383

179,991

Other intangible assets

21,730

18,920
Other assets

40,042

34,078

---------- ----------
Total assets

$1,526,932 $1,327,463

========== ==========

Current liabilities

Short-term debt

$

- $

11,856

Accounts payable

287,001

218,129

Accrued liabilities

168,403

235,080

---------- ----------

Total current liabilities

455,404

465,065
Other liabilities

111,484

17,874

---------- ----------
Total liabilities

566,888

482,939

Shareholders´ equity

960,044

844,524

---------- ----------
Total liabilities and shareholders´ equity

$1,526,932 $1,327,463

========== ==========
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LOGITECH INTERNATIONAL S.A.

(In thousands) - Unaudited

SUPPLEMENTAL FINANCIAL INFORMATION

Quarter Ended Twelve Months Ended
Reconciliation of GAAP to non-GAAP

March 31

March 31

Financial Measures

2008

2008
----------------------------------------------------------------------

GAAP net income

$

60,338 $

231,026
Adjustments:

Impairment loss on short-term

investments

6,900

79,823

Realized gain on sale of short-

term investments

-

(33,712)

Realized loss on sale of short-

term investments

-

5,951

------------- -------------------

6,900

52,062

------------- -------------------

Non-GAAP net income

$

67,238 $

283,088

============= ===================

GAAP net income per share:

Basic

$

0.33 $

1.27

Diluted

$

0.32 $

1.23

Impairment loss on short-term

investments, net of realized gain

per share

Basic

$

0.04 $

0.29

Diluted

$

0.04 $

0.28

Non-GAAP net income per share:

Basic

$

0.37 $

1.56

Diluted

$

0.36 $

1.51

We sometimes use information derived from consolidated financial

information but not presented in our financial statements prepared in

accordance with U.S. generally accepted accounting principles (GAAP).

Certain of these data are considered "non-GAAP financial measures"

under the U.S. Securities and Exchange Commission rules. The

adjustments between the GAAP and non-GAAP financial measures

presented above consist of the impact on Other Income (Expense) of

the impairment loss related to other-than-temporary declines in fair

value of short-term investments during the three and twelve months

ended March 31, 2008, and the realized gain/loss on sales of short-

term investments during the twelve months ended March 31, 2008. Our

management uses these non-GAAP measures in its financial and

operational decision-making. Our management believes these non-GAAP

measures, when considered in conjunction with the corresponding GAAP

measures, facilitate better comparison by our investors of our

current period results with corresponding prior periods.
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LOGITECH INTERNATIONAL S.A.

(In thousands) - Unaudited

Quarter Ended

Twelve Months Ended

March 31

March 31
SUPPLEMENTAL FINANCIAL

INFORMATION

2008

2007

2008

2007
----------------------------------------------------------------------

Depreciation

$ 10,801 $ 8,944 $

43,831 $

35,239
Amortization of other

acquisition-related

intangibles

1,736

1,591

5,391

4,876
Operating income

66,139

55,298

286,680

230,862
Operating income before

depreciation and

amortization

78,676

65,833

335,902

270,977
Capital expenditures

16,611

10,605

57,900

47,246

Net sales by channel:

Retail

$527,001 $457,205 $2,067,288 $1,844,395

OEM

74,233

55,529

303,208

222,174

--------- --------- ----------- -----------

Total net sales

$601,234 $512,734 $2,370,496 $2,066,569

========= ========= =========== ===========

Net sales by product

family:

Retail - Pointing Devices $167,838 $121,632 $ 622,074 $ 508,449

Retail - Keyboards &

Desktops

117,255

110,411

458,434

372,266

Retail - Audio

113,785

98,553

478,455

408,314

Retail - Video

59,981

54,980

238,728

314,514

Retail - Gaming

32,865

40,176

146,016

149,113

Retail - Remotes

35,277

31,453

123,581

91,739

OEM

74,233

55,529

303,208

222,174

--------- --------- ----------- -----------

Total net sales

$601,234 $512,734 $2,370,496 $2,066,569

========= ========= =========== ===========

Stock-based Compensation

Quarter Ended

Twelve Months Ended

Expense for

March 31

March 31
Employee Stock Options and

Employee Stock Purchases

2008

2007

2008

2007
------------------------------------ --------- ----------- -----------

Cost of goods sold

$

704 $

- $

2,706 $

2,077
Marketing and selling

1,908

1,772

7,696

7,167
Research and development

1,051

824

3,505

3,151
General and administration

2,118

1,874

7,132

7,069
Income tax benefit

(1,546)

(2,215)

(4,773)

(4,526)

--------- --------- ----------- -----------

Total stock-based

compensation expense

after income taxes

$ 4,235 $ 2,255 $

16,266 $

14,938

========= ========= =========== ===========

Stock-based compensation

expense for employee

stock options and

employee stock purchases

net of tax, per share

(diluted)

$

0.02 $

0.01 $

0.09 $

0.07
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