Logitech 2004 Annual Report Download - page 120
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LOGITECH INTERNATIONAL S.A.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Net sales to unaffiliated customers by geographic region were as follows (in thousands):
Year ended March 31,
2004 2003 2002
Europe ..................................... $ 592,067 $ 487,762 $413,348
North America ............................... 473,065 435,612 389,949
Asia Pacific ................................. 203,338 176,914 140,249
Total net sales ............................ $1,268,470 $1,100,288 $943,546
In fiscal years 2004, 2003 and 2002 one customer represented 10%, 12% and 11% of net sales.
Long-lived assets by geographic region were as follows (in thousands):
March 31,
2004 2003
Europe .................................................. 51,465 $ 47,221
North America ............................................ 112,722 114,736
Asia Pacific .............................................. 19,924 13,082
Total long-lived assets .................................. $184,111 $175,039
Note 15 — Other Disclosures Required by Swiss Law:
Balance Sheet Items
The amounts of certain balance sheet items were as follows (in thousands):
March 31,
2004 2003
Prepayments and accrued income ............................. $ 6,512 $ 8,339
Non-current assets ......................................... $184,111 $175,039
Pension liabilities, current ................................... $ 30 $ 190
Fire insurance value of property, plant and equipment ............. $101,603 $ 98,153
Statement of Income Items
Total personnel expenses amounted to $111.4 million, $98.7 million and $79.3 million in fiscal years 2004,
2003 and 2002.
Note 16 — Subsequent Events:
Subsequent to year-end, the Company acquired Intrigue Technologies, a privately held Canadian company
focused on advanced remote control technology. The acquisition will be accounted for as a purchase, and
Logitech paid cash consideration of approximately $29.0 million for all the outstanding shares of Intrigue
Technologies. The purchase price will be allocated to the fair values of the net assets acquired, which primarily
consist of the acquired company’s database of product information and infrared codes, technology and brand
name. Also, the agreement provides for possible performance-based payments to the former shareholders of
Intrigue tied to the achievement of certain future remote control revenue targets.
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