罗技Logitech International SA (LOGI) 2002财年年度报告「NASDAQ」.pdf

1、LOGITECH ANNUAL REPORT 2002367.0013_10-K_wrap_6.0_BL3.qxd 5/31/02 9:41 AM Page 3Although the past year has been challenging for the PC industry and for the global economy in general,Logitech has emerged stronger than ever.On March 31,2002,we completedanother record fiscal year.Sales of$944 million g

2、rew by 28 percent over fiscal 2001,while netincome of$75 million was 66 percent higher.Operating margin of 10.3 percent was 287 basis pointsgreater than the prior year,while net margin of 7.9 percent was182 basis points greater.Cash flow from operations was$113 million,an increase of over$100 millio

3、n compared to the prior year.Our retail presence continues to flourish,accounting for approximately 84 percent of our revenue,as consumersupgrade and expand their existing systems to take advantage of new technologies such as cordless connectivity and newapplications such as video instant messaging.

4、As a result,Logitech sold more than eight million cordless products and fourmillion webcams last year alone.Our OEM business has been able to partially compensate for the ongoing slump in the PCmarket,realizing new opportunities for bundling higher value-added products at the system level,for exampl

5、e,cordless,audio and optical devices.We remain committed to our strategy for growth and expansion,adding new platforms and environments to our product portfolio while continuing to enrich the PC experience.We brought to the desktop a number of award-winning products,including Cordless DesktopOptical

6、,with its unique combination of cordless optical technology,Internet navigation and great design,as well as the Z-Series of PC speakers.These high-performance speakers,which have already received numerous industry awards in the U.S.and an enthusiastic initial reception at their recent European launc