ZURICH, Switzerland & NEWARK, Calif.–(BUSINESS WIRE)–In advance of a meeting to be held with financial analysts and investors
in Zurich, Logitech International (SIX:LOGN) (Nasdaq:LOGI) today:

• Reaffirmed its Fiscal Year 2019 outlook of 9 to 11 percent sales
  growth in constant currency and $340 million to $345 million in
  non-GAAP operating income.
• Announced a Fiscal Year 2020 outlook of mid to high single-digit sales
  growth in constant currency and $375 million to $385 million in
  non-GAAP operating income, an increase of approximately 10 to 12
  percent from the midpoint of the Company’s profitability outlook for
  Fiscal Year 2019.
• Revised elements of its long-term business model upward. Expectations
  of long-term sales growth in constant currency continue to be in the
  high single digits. The gross margin target is now 36 to 40 percent,
  revised upward from the previous target of 35 to 37 percent. The
  operating margin target is now 11 to 14 percent, up from the previous
  target of 10 to 12 percent.

“Logitech grew up with the PC. Now we are becoming the leading cloud
peripherals company,” said Bracken Darrell, Logitech president and chief
executive officer. “Our diverse and innovative portfolio continues to
deliver, driven by the horsepower of our Gaming, Video Collaboration and
Creativity & Productivity market opportunities. We are sustaining our
investment in future growth and in our long-term vision of Logitech, the
multi-category, multi-brand design company.”

Logitech’s Analyst and Investor Day will be held today at 9:00
a.m. Central European Time. A live webcast and replay of the meeting
will be available on the Logitech corporate website at http://ir.logitech.com.

Use of Non-GAAP Financial Information and Constant Currency

To facilitate comparisons to Logitech’s historical results, Logitech has
included non-GAAP adjusted measures, which exclude share-based
compensation expense, amortization of intangible assets, purchase
accounting effect on inventory, acquisition-related costs, change in
fair value of contingent consideration for business acquisition,
restructuring charges (credits), gain (loss) on investments in privately
held companies, investigation and related expenses, non-GAAP income tax
adjustment, and other items detailed under “Supplemental Financial
Information” in our quarterly earnings press releases and posted to our
website at http://ir.logitech.com.
Historical GAAP and corresponding non-GAAP measures are provided with
our earnings releases and presentations in the Investors section of our
website. Logitech also presents percentage sales growth in constant
currency to show performance unaffected by fluctuations in currency
exchange rates. Percentage sales growth in constant currency is
calculated by translating prior period sales in each local currency at
the current period’s average exchange rate for that currency and
comparing that to current period sales. Logitech believes this
information, used together with the GAAP financial information, will
help investors to evaluate its current period performance and trends in
its business. With respect to the Company’s outlook for non-GAAP
operating income, most of these excluded amounts pertain to events that
have not yet occurred and are not currently possible to estimate with a
reasonable degree of accuracy. Therefore, no reconciliation to the GAAP
amounts has been provided for Fiscal Years 2019 or 2020.

About Logitech

Logitech designs products that have an everyday place in people’s lives,
connecting them to the digital experiences they care about. More than 35
years ago, Logitech started connecting people through computers, and now
it’s a multi-brand company designing products that bring people together
through music, gaming, video and computing. Brands of Logitech include Logitech,
Ultimate
Ears, Jaybird,
Blue
Microphones, ASTRO
Gaming and Logitech
G. Founded in 1981, and headquartered in Lausanne, Switzerland,
Logitech International is a Swiss public company listed on the SIX Swiss
Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find
Logitech at www.logitech.com,
the company
blog or @Logitech.

This press release contains forward-looking statements within the
meaning of the federal securities laws, including, without limitation,
statements regarding: growth, profitability, our outlook for Fiscal Year
2019 operating income and sales growth, our outlook for Fiscal Year 2020
operating income and sales growth, our long-term business model, sales
growth, gross margin and operating margin, our consecutive years of
growth, our position among cloud peripherals companies, our product
portfolio and its ability to drive growth,, our growth in various
product categories, our market opportunities, our long-term vision, and
investments in our business. 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; if we fail to innovate and
develop new products in a timely and cost-effective manner for our new
and existing product categories; if we do not successfully execute on
our growth opportunities 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; if
we are not able to maintain and enhance our brands; if we do not fully
realize our goals to lower our costs and improve our operating leverage;
if there is a deterioration of business and economic conditions in one
or more of our sales regions or product categories, or significant
fluctuations in exchange rates; changes in trade policies and agreements
and the imposition of tariffs that affect our products or operations and
our ability to mitigate; risks associated with acquisitions;the effect
of changes to our effective income tax rates. 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, 2018 and our Annual Report on Form 10-K for
the fiscal year ended March 31, 2018, 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.

Note that unless noted otherwise, comparisons are year over year.

Logitech and other Logitech marks are trademarks or registered
trademarks of Logitech Europe S.A and/or its affiliates in the U.S. 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 website at www.logitech.com.

(LOGIIR)

Contacts

Logitech International
Ben Lu
Vice President, Investor
Relations – USA
+1 (510) 713-5568

Krista Todd
Vice President, Global Communications – USA
+1
(510) 713-5834

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