Logitech Confirms Lifesize Non-Cash Accounting Charge for Fiscal Year 2015 Donnerstag, 14. Mai 2015 - 15:10

Logitech Confirms Lifesize Non-Cash Accounting Charge for Fiscal Year 2015

NEWARK, Calif. & LAUSANNE, Switzerland--(BUSINESS WIRE)--

Logitech International (SIX:LOGN) (Nasdaq:LOGI) today announced that,

based on a third party valuation report, it will take a non-cash,

non-tax-deductible goodwill impairment charge related to the acquisition

of Lifesize. As communicated in April 2015, Logitech has been evaluating

the goodwill associated with Lifesize. This charge is expected to be

between $100 million and $123 million in the fourth quarter of Fiscal

Year 2015.

The charge does not affect the Company's operating performance. It is

still subject to further review by the Company and its independent

auditors, including the routine review of subsequent events, prior to

the filing of its Annual Report on Form 10-K for the fiscal year ended

March 31, 2015.

As announced last month, Logitech is reorganizing its Lifesize business

to sharpen its focus on Lifesize's new cloud-based offering which is

gaining significant market traction. Logitech is implementing these

actions, and considering others, to optimize the value of its video

conferencing reporting unit.

About Logitech

Logitech is a world leader in products that connect people to the

digital experiences they care about. Spanning multiple computing,

communication and entertainment platforms, Logitech's combined hardware

and software enable or enhance digital navigation, music and video

entertainment, gaming, social networking, audio and video communication

over the Internet, video security and home-entertainment control.

Founded in 1981, Logitech International is a Swiss public company listed

on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market

(LOGI).

This press release contains forward-looking statements within the

meaning of the federal securities laws, including, without limitation

statements regarding: the goodwill impairment charge related to

Lifesize, the reorganization of the Lifesize business, Lifesize's

cloud-based offering, and actions to optimize the value of Lifesize. The

forward-looking statements in this release involve risks and

uncertainties that could cause Logitech's actual results and events to

differ materially from those anticipated in these forward-looking

statements, including, without limitation: if our product offerings,

marketing activities and investment prioritization decisions do not

result in the sales, profitability or profitability growth we expect, or

when we expect it; the demand of our customers and our consumers for our

products and our ability to accurately forecast it; if we do not

successfully execute on our growth opportunities in our new product

categories or our growth opportunities are more limited than we expect;

the effect of pricing, product, marketing and other initiatives by our

competitors, and our reaction to them, on our sales, gross margins and

profitability; if our products and marketing strategies fail to separate

our products from competitors' products; changes with respect to the

Lifesize business, assets, strategy or perceived valuation; finalization

of the review of the charge by Logitech and its independent auditors. A

detailed discussion of these and other risks and uncertainties that

could cause actual results and events to differ materially from such

forward-looking statements is included in Logitech's periodic filings

with the Securities and Exchange Commission, including our Quarterly

Report on Form 10-Q for the fiscal quarter ended December 31, 2014 and

our Annual Report on Form 10-K for the fiscal year ended March 31, 2014,

available at www.sec.gov,

under the caption Risk Factors and elsewhere. Logitech does not

undertake any obligation to update any forward-looking statements to

reflect new information or events or circumstances occurring after the

date of this press release.

Logitech, the Logitech logo, and other Logitech marks are registered in

Switzerland 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.

(LOGIIR)

Logitech International
Joe Greenhalgh
Vice President, Investor

Relations - USA
510-713-4430
or
Krista Todd
Vice

President, Communications - USA
510-713-5834
or
Ben

Starkie
Corporate Communications - Europe
+41-(0) 79-292-3499

Source: Logitech International

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