Logitech 2007 Annual Report Download - page 5

Over the past decade, while growing consistently, we
have strived to develop into a larger company that
can deliver and support sustained growth well into the
future. Our executive team is now stronger than ever,
with a blend of experience and passion that can lead
us in the next phase of our growth. The depth and breadth
of this team is one of our most cherished assurances for
the future of our company. And our employees around
the globe are as passionate today about our products,
customers and opportunities as was the enthusiastic team
that pioneered the company more than 25 years ago.
They are our most valuable asset and we cannot be more
proud of what they have accomplished.
As we continue to grow into a larger company, we’re working
on the skills, processes and infrastructure needed to sustain
our growth. We are also keen to preserve our culture of per-
sonal ownership and collaborative decision making, which
are among the good traits of smaller companies. Our success
in this important balance will ensure the longevity and the
uniqueness of your company.
We are confi dent that the signifi cant progress we are
making toward management excellence and scalability
will allow us to grow by taking advantage of the many
opportunities ahead—both in our core business as well
as in what we call the new consumer electronics for the
digital home.
In our core business, we are driving innovation in PC
navigation, notebook peripherals, Internet communications,
gaming and digital music. We are pursuing opportunities
in the digital home by offering our Harmony remote controls
to tame the complexities of home-entertainment systems.
And, with our October 2006 acquisition of Slim Devices, we
are offering people the ability to enjoy Internet-based radio
and their own digital-music libraries anywhere in their home.
In the following pages, you will fi nd a review of our product
businesses. For each of them, we believe Logitech is poised
for ongoing leadership and growth.
Our financial resources will be used to invest in this
growth, to pay for complementary acquisitions to broaden
our portfolio, and to continue our share buyback program
as an effi cient way to return value to you.
As we broaden our product portfolio and pursue new
market opportunities, it is more critical than ever to keep
the people who buy and use our products at the center
of our focus. Our ongoing goal is for all our customers to
be delighted by their experience with our products,
services and support.
Logitech values the many loyal partners who contribute
across our business with great competence and fl exibility.
We wish to express our appreciation to them, to all our
employees worldwide, and to the members of our Board of
Directors, who provide considered guidance and expertise.
We offer special thanks to Shin’ichi Okamoto, who is retiring
from our Board after three years of service.
Finally, we would like to thank our shareholders for your
continued faith in us. FY 2007 has been an outstanding
year for Logitech and we look forward to continued
success in the years to come.
Sincerely,
ENGLISH
FY 2007 was a banner year for Logitech and our best year ever. In a truly fi tting way to celebrate our 25th anniver-
sary, we achieved several important milestones. It was our ninth consecutive year of record sales, capped by our 34th
straight quarter of double-digit sales growth. We exceeded $2 billion in annual sales. We shipped more than 150 million
products and introduced many new award-winning peripherals. We generated the largest cash fl ow from operations
in our history: $306 million, more than double that of last year. And, we became part of the Nasdaq 100 index, ranking
Logitech among the largest publicly traded technology companies in the world.
DANIEL BOREL
Chairman of the Board
GUERRINO DE LUCA
President and
Chief Executive Offi cer