Logitech 2004 Annual Report Download - page 121

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LOGITECH INTERNATIONAL S.A.
QUARTERLY FINANCIAL DATA
(Unaudited)
The following table contains selected unaudited quarterly financial data for fiscal years 2004 and 2003 (in
millions, except share amounts in thousands, and per share amounts):
Year ended March 31, 2004 Year ended March 31, 2003
First Second Third Fourth First Second Third Fourth
Net sales ............................ $218.2 $293.6 $409.6 $347.1 $195.1 $251.8 $351.8 $301.7
Grossprofit .......................... 60.6 92.5 140.5 115.3 66.3 85.9 117.0 95.2
Operating expenses:
Marketing and selling .............. 28.0 39.5 47.8 41.5 30.3 35.9 41.3 33.7
Research and development .......... 14.6 14.5 15.6 16.6 12.9 13.7 14.2 15.3
General and administrative .......... 10.2 11.0 11.8 12.3 10.5 10.6 10.8 11.4
Total operating expenses ....... 52.8 65.0 75.1 70.4 53.7 60.3 66.2 60.4
Operating income ..................... 7.9 27.4 65.3 44.9 12.6 25.7 50.8 34.8
Netincome .......................... $ 5.7 $ 21.2 $ 66.8 $ 38.5 $ 10.8 $ 21.0 $ 40.4 $ 26.6
Shares used to compute net income per
share and ADS:
Basic ........................... 45,743 45,669 44,879 45,117 46,065 46,133 46,046 45,721
Diluted ......................... 48,056 50,094 49,764 50,404 52,542 51,593 51,168 50,607
Net income per share and ADS:
Basic ........................... $ 0.12 $ 0.46 $ 1.49 $ 0.85 $ 0.23 $ 0.46 $ 0.88 $ 0.58
Diluted ......................... $ 0.12 $ 0.44 $ 1.35 $ 0.78 $ 0.22 $ 0.42 $ 0.80 $ 0.54
The following table sets forth certain quarterly financial information as a percentage of net sales:
Year ended March 31, 2004 Year ended March 31, 2003
First Second Third Fourth First Second Third Fourth
Net sales ............................ 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Grossprofit ......................... 27.8 31.5 34.3 33.2 34.0 34.1 33.3 31.6
Operating expenses:
Marketing and selling .............. 12.8 13.4 11.6 12.0 15.5 14.3 11.7 11.1
Research and development .......... 6.7 5.0 3.8 4.8 6.6 5.4 4.0 5.1
General and administrative ......... 4.7 3.8 2.9 3.5 5.4 4.2 3.1 3.8
Total operating expenses ....... 24.2 22.2 18.3 20.3 27.5 23.9 18.8 20.0
Operating income ..................... 3.6 9.3 16.0 12.9 6.5 10.2 14.5 11.5
Netincome .......................... 2.6% 7.2% 16.3% 11.1% 5.5% 8.3% 11.5% 8.8%
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