Logitech Ranks #1: Named by Business 2.0 As the Fastest Growing Tech Company.
FREMONT, Calif.--(BUSINESS WIRE)--Sept. 16, 2002
Logitech (Nasdaq:LOGI) (Switzerland:LOGN, LOGZ) today announced that it has been chosen by Business 2.0 magazine as the fastest growing technology company in the first annual Business 2.0 100 ranking. Logitech took top billing out of more than 2,000 companies considered, using metrics of 12-month stock-market return with revenue, earnings and operating cash flow growth during the past three years. The list will be featured in the October 2002 issue of Business 2.0 and available online at http://www.business2.com starting October 1.
"Logitech is proud to be recognized by Business 2.0 as a leader in the technology sector," said Guerrino De Luca, Logitech's president and chief executive officer. "Our strong business focus and financial discipline, coupled with an expanding portfolio of innovative products, have helped us achieve significant growth during the last three years."
Starting with more than 2,000 publicly traded technology companies tracked by Zacks Investment Research, Business 2.0 narrowed the list to those with at least three years' history, $50 million in revenues, and positive cash flow from operations in the most recently reported 12 months. In consultation with finance professors George Foster of Stanford, Brett Trueman of the University of California at Berkeley, and Chip Ruscher of the University of Arizona, the publication created a ranking algorithm that combined 12-month stock market return with revenue, earnings, and operating cash flow growth during the past three years. The first three measures each count for 20 percent of a company's overall ranking, the last for 40 percent.
"Outfits that have improved their financial strength during the grueling past three years have something to teach. The B2 100 firms are eloquent testimony to the power of innovation, focus, financial discipline, and a handful of other virtues, even in this dismal economy," editor-at-large Erick Schonfeld writes in the October issue of Business 2.0.
About Business 2.0: Business 2.0, a magazine about insight, tools, and advantage in business, is published out of The FORTUNE Group at Time Inc., an AOL Time Warner company. For more information, visit its website at www.business2.com.
About Logitech: Founded in 1981, Logitech designs, manufactures and markets personal interface products that enable people to effectively work, play, and communicate in the digital world. The Company's product family includes Internet video cameras, mice and trackballs, keyboards, headsets and speakers, interactive gaming devices and 3D controllers.
With operational headquarters through its U.S. subsidiary in Fremont, California, and regional headquarters through local subsidiaries in Switzerland, Taiwan and Hong Kong, Logitech International is a Swiss public company traded in Switzerland on the Swiss Stock Exchange under the symbols LOGN and LOGZ, and in the U.S. on the Nasdaq National Market System (LOGI). The company has manufacturing facilities in Asia and offices in major cities in North America, Europe and Asia Pacific.
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|Date:||Sep 16, 2002|
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