罗技Logitech International SA (LOGI) 2015财年年度报告「NASDAQ」.pdf

1、2015 Annual General Meeting Invitation,Proxy Statement and Annual ReportTo Our ShareholdersWe are pleased to report that Fiscal Year 2015 was a strong year for Logitech,further advancing the Companys transformation that started two years ago.This past year demonstrated the effectiveness of our strat

2、egy and its resilience even in the face of challenges.The PC market declined,the iPad market declined and we underwent a lengthy internal investigation.By November 2014 the internal investigation was behind us and our financial statements had been corrected.Against this backdrop,we delivered solid F

3、iscal Year 2015 results:Sales of$2.11 billion,down 1 percent compared to FY 2014,and up 2 percent in constant currency.GAAP operating income was$15 million with earnings per share at$0.06.Cash flow from operations was$179 million.We ended the year with more than$0.5 billion in cash,up$68 million ove

4、r last year.That is after distributing$44 million in dividends to our shareholders.While these numbers are solid,once you analyze them in more detail they are even more impressive.Excellent resultsLogitechs primary focus is on our Retail Strategic business the companys Profit Maximization and Growth

5、 categories.It does not include OEM and Lifesize,which together broke even.Retail Strategic is nearly 90 percent of our business the future of our company.If you look at our performance in this business in constant currency to take out the unusually significant impact of exchange rates you will see

6、we grew FY 2015 sales by 6 percent compared to last year.In the last half of the year,they grew 7 percent.This means the business that represents the future of Logitech is already growing within our high-single-digit,long-term growth target.It also shows that we ended FY 2015 with momentum.In FY 201