| Logitech International SA | |||
| Ticker: | LOGIY | ||
| Exchange: | NASDAQ-National Market | Apples, SWITZ | |
| Industry: | High-Tech (SIC Code 3577) | ||
| Type of Shares: | American Depositary Receipts | Filing Date: | 2/11/97 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 3/27/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $18.50 | |
| Primary Shares: | 2,000,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.88 | |
| Offering Amount: | $37,000,000 | Selling: | $0.50 | |
| Expenses: | $3,436,000 | Reallowance: | $0.10 | |
| Shares Out After: | 17,673,120 |
| Manager | Tier | Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| SBC Warburg & Company | Co-manager | (212) 224-7274 |
| Issuer's Law Firm: | Wilson, Ryan & Campilongo |
| Bank's Law Firm: | Brobeck, Phleger & Harrison |
| Auditor: | Price Waterhouse |
| Registrar/Transfer Agent: | Bank of New York |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/96 | 12/31/96 | 12/31/95 | 12/31/96 | ||
| Revenue: | $355.04 | $305.37 | $262.19 | Assets: | $212.62 |
| Net Income: | $8.19 | $16.36 | $6.63 | Curr Assets: | |
| EPS: | $4.76 | $9.29 | $3.84 | Liabilities: | $136.57 |
| Prior EPS: | -$11.17 | $23.65 | -$5.28 | Curr Liabilities: | |
| Cash Flow/Oper: | $8.81 | Equity: | $76.05 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading designer, manufacturer and marketer of a broad range of computer control devices, including mice, trackballs, touchpads, joysticks and remote controls. Capitalizing on the growth in visual computing, the company's products also include a line of imaging solutions, from color sheetfed scanners to digital video cameras. Over the past 15 years, Logitech has provided consumers with a natural and intuitive bridge between the sensory rich analog world and the digital realm of the personal computer. The company's products are built around Senseware, Logitech's design philosophy of providing user-centric solutions that are comfortable, easy to install, and easy to use, and are combined with integrated software for seamless compatibility. Senseware products are designed as an extension of a computer user's natural senses, appealing to the way people want to work, communicate and play, and allowing users to customize and personalize their computing environment for a more natural man-machine interface. |
| Competition |
| The company's business is characterized by intense competition, a trend of declining average selling prices and performance enhancements of competing products. The company expects that competition will continue to be intense and may increase from current or future competitors. Logitech believes that the principal competitive factors include the price, performance, user-centric design, ease-of-use, quality and timeliness of products, as well as the responsiveness, capacity, technical abilities, established customer relationships, retail shelf space, advertising and promotion programs, and brands of manufacturers. |
| Business Plan |
| The company's objective is to be the leading provider of man-machine interface solutions for PCs and other multimedia devices in the growing mass consumer market. The company's strategy includes the following key elements: 1) develop products for mass consumer markets; 2) enhance and leverage the Logitech brand; 3) leverage OEM and retail channels; 4) continue technological innovations; 5) provide USB and cordless solutions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding indebtedness under existing credit lines, for general corporate purposes such as working capital, capital expenditures, and possible acquisitions. |