2011 Q4 Form 10-Q Financial Statement
#000110465911061563 Filed on November 07, 2011
Income Statement
Concept | 2011 Q4 | 2011 Q3 | 2011 Q1 |
---|---|---|---|
Revenue | $714.6M | $589.2M | $547.6M |
YoY Change | -5.24% | 1.26% | 4.23% |
Cost Of Revenue | $455.9M | $390.8M | $368.2M |
YoY Change | -5.59% | 7.08% | 9.23% |
Gross Profit | $258.7M | $198.4M | $179.4M |
YoY Change | -4.62% | -8.53% | -4.73% |
Gross Profit Margin | 36.2% | 33.68% | 32.76% |
Selling, General & Admin | $147.0M | $135.4M | $137.6M |
YoY Change | -5.9% | 8.49% | 14.1% |
% of Gross Profit | 56.82% | 68.26% | 76.7% |
Research & Development | $41.91M | $39.49M | $38.10M |
YoY Change | 7.46% | -3.51% | -4.03% |
% of Gross Profit | 16.2% | 19.9% | 21.24% |
Depreciation & Amortization | $17.26M | $18.35M | $19.10M |
YoY Change | -11.93% | 1.36% | -10.75% |
% of Gross Profit | 6.67% | 9.25% | 10.65% |
Operating Expenses | $188.9M | $174.9M | $175.8M |
YoY Change | -3.18% | 5.53% | 9.67% |
Operating Profit | $69.78M | $23.50M | $3.600M |
YoY Change | -8.31% | -54.09% | -87.14% |
Interest Expense | $917.0K | $601.0K | $600.0K |
YoY Change | 83.4% | 0.17% | 20.0% |
% of Operating Profit | 1.31% | 2.56% | 16.67% |
Other Income/Expense, Net | $6.713M | -$1.763M | $2.700M |
YoY Change | 739.13% | -2.06% | 285.71% |
Pretax Income | $77.41M | $22.33M | $6.900M |
YoY Change | 0.01% | -55.35% | -76.12% |
Income Tax | $22.07M | $4.888M | $4.200M |
% Of Pretax Income | 28.52% | 21.89% | 60.87% |
Net Earnings | $55.30M | $17.40M | $2.800M |
YoY Change | -14.92% | -57.77% | -88.57% |
Net Earnings / Revenue | 7.74% | 2.95% | 0.51% |
Basic Earnings Per Share | $0.10 | ||
Diluted Earnings Per Share | $318.4K | $0.10 | $15.55K |
COMMON SHARES | |||
Basic Shares Outstanding | 172.9M shares | 176.9M shares | |
Diluted Shares Outstanding | 177.3M shares |
Balance Sheet
Concept | 2011 Q4 | 2011 Q3 | 2011 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $523.3M | $379.5M | $477.9M |
YoY Change | 13.59% | 23.33% | 49.39% |
Cash & Equivalents | $523.3M | $379.5M | $477.9M |
Short-Term Investments | |||
Other Short-Term Assets | $73.50M | $85.00M | $59.35M |
YoY Change | 25.64% | 33.86% | 0.76% |
Inventory | $295.7M | $325.1M | $280.8M |
Prepaid Expenses | |||
Receivables | $318.7M | $294.7M | $258.3M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $1.211B | $1.084B | $1.076B |
YoY Change | 4.79% | 6.38% | 35.62% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $78.10M | $78.40M | $84.16M |
YoY Change | -8.97% | -13.94% | -7.72% |
Goodwill | $547.2M | ||
YoY Change | |||
Intangibles | $74.62M | ||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $81.50M | $74.10M | $79.21M |
YoY Change | 14.47% | 10.76% | 20.2% |
Total Long-Term Assets | $779.4M | $779.5M | $785.2M |
YoY Change | -1.6% | -2.59% | -2.58% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.211B | $1.084B | $1.076B |
Total Long-Term Assets | $779.4M | $779.5M | $785.2M |
Total Assets | $1.991B | $1.864B | $1.862B |
YoY Change | 2.19% | 2.43% | 16.37% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $377.1M | $342.1M | $298.2M |
YoY Change | -2.43% | -7.54% | 15.57% |
Accrued Expenses | $213.1M | $187.0M | $172.6M |
YoY Change | -0.05% | -5.89% | -5.34% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $590.2M | $529.1M | $470.7M |
YoY Change | -1.58% | -6.98% | 6.91% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $196.0M | $185.3M | $185.8M |
YoY Change | 16.04% | 15.45% | 16.34% |
Total Long-Term Liabilities | $196.0M | $185.3M | $185.8M |
YoY Change | 16.04% | 15.45% | 16.37% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $590.2M | $529.1M | $470.7M |
Total Long-Term Liabilities | $196.0M | $185.3M | $185.8M |
Total Liabilities | $786.2M | $714.4M | $656.6M |
YoY Change | 2.29% | -2.05% | 9.43% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $1.514B | ||
YoY Change | |||
Common Stock | $0.00 | $33.37M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $264.0M | ||
YoY Change | |||
Treasury Stock Shares | 18.71M shares | 12.43M shares | |
Shareholders Equity | $1.205B | $1.149B | $1.158B |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.991B | $1.864B | $1.862B |
YoY Change | 2.19% | 2.43% | 16.37% |
Cashflow Statement
Concept | 2011 Q4 | 2011 Q3 | 2011 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $55.30M | $17.40M | $2.800M |
YoY Change | -14.92% | -57.77% | -88.57% |
Depreciation, Depletion And Amortization | $17.26M | $18.35M | $19.10M |
YoY Change | -11.93% | 1.36% | -10.75% |
Cash From Operating Activities | $152.6M | -$2.100M | $3.300M |
YoY Change | 2.76% | 75.0% | -94.99% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$10.50M | -$10.30M | -$11.20M |
YoY Change | 64.06% | -23.7% | -16.42% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $6.500M | -$18.80M | $8.900M |
YoY Change | -690.91% | 157.53% | |
Cash From Investing Activities | -$4.000M | -$29.10M | -$2.400M |
YoY Change | -46.67% | 39.9% | -82.09% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -600.0K | -64.00M | 15.30M |
YoY Change | -104.32% | -656.52% | -239.09% |
NET CHANGE | |||
Cash From Operating Activities | 152.6M | -2.100M | 3.300M |
Cash From Investing Activities | -4.000M | -29.10M | -2.400M |
Cash From Financing Activities | -600.0K | -64.00M | 15.30M |
Net Change In Cash | 148.0M | -95.20M | 16.20M |
YoY Change | -4.45% | 806.67% | -60.96% |
FREE CASH FLOW | |||
Cash From Operating Activities | $152.6M | -$2.100M | $3.300M |
Capital Expenditures | -$10.50M | -$10.30M | -$11.20M |
Free Cash Flow | $163.1M | $8.200M | $14.50M |
YoY Change | 5.29% | -33.33% | -81.72% |
Facts In Submission
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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Note 1 — The Company</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 19.45pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communications and entertainment platforms, we develop and market innovative hardware and software products that 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. Our products for home and business PCs (personal computers) include mice, trackballs, keyboards, interactive gaming controllers, multimedia speakers, headsets, webcams, and lapdesks. Our tablet accessories include keyboards, keyboard cases, earphones, wireless speakers and speaker stands. Our Internet communications products include webcams, headsets, video communications services, and digital video security systems for a home or small business. Our digital music products include speakers, earphones, and custom in-ear monitors. For home entertainment systems, we offer the Harmony line of advanced remote controls, Squeezebox wireless music solutions and, in the United States, a line of Logitech products for the Google TV platform. For gaming consoles, we offer a range of gaming controllers and microphones, as well as other accessories. Our LifeSize division offers scalable HD (high-definition) video communications endpoints, HD video conferencing systems with integrated monitors, video bridges and other infrastructure software and hardware to support large scale video deployments, and services to support these products.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 19.45pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 19.45pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">We sell our peripheral products to a network of distributors and resellers and to OEMs (original equipment manufacturers). We sell our LifeSize products and services to distributors, value-added resellers, OEMs, and, occasionally, direct enterprise customers. The large majority of our revenues have historically been derived from sales of our peripheral products for use by consumers.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 19.45pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 19.45pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Logitech was founded in Switzerland in 1981, and Logitech International S.A. has been the parent holding company of Logitech since 1988. Logitech International S.A. is a Swiss holding company with its registered office in Apples, Switzerland, which conducts its business through subsidiaries in the Americas, EMEA (Europe, Middle East, Africa) and Asia Pacific. Shares of Logitech International S.A. are listed on both the Nasdaq Global Select Market, under the trading symbol LOGI, and the SIX Swiss Exchange, under the trading symbol LOGN.</font></p></td></tr></table> | ||
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|
27420000 | USD |
CY2010Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
40927000 | USD |
CY2010Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
97412000 | USD |
CY2010Q3 | us-gaap |
Gross Profit
GrossProfit
|
216934000 | USD |
CY2010Q3 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
364950000 | USD |
CY2010Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
581884000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-16818000 | USD | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.34 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.34 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
3454000 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
64136000 | USD | |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
73134000 | USD |