6-K

File Number: 0-29174

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO

RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: January 20, 2005

LOGITECH INTERNATIONAL S.A.

(Exact name of Registrant as specified in its charter)

Not Applicable

(Translation of Registrant’s name into English)

Canton of Vaud, Switzerland

(Jurisdiction of incorporation or organization)

Logitech International S.A.

Apples, Switzerland

c/o Logitech Inc.

6505 Kaiser Drive

Fremont, California 94555

(510) 795-8500

(Address and telephone number of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

ü  Form 20-F Form 40-F

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes                 ü  No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b).

Not applicable

Logitech International S.A.

Form 6-K

On January 19, 2005, Logitech International S.A. issued the press release attached hereto as Exhibit 15.1. The information in the press release is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned, thereunto duly authorized.

Logitech International S.A.
By:	/s/ Guerrino De Luca
	Guerrino De Luca
	President and Chief Executive Officer
By:	/s/ Kristen M. Onken
	Kristen M. Onken
	Chief Finance Officer, Chief Accounting Officer, and U.S. Representative

January 20, 2005

EX-15.1

Exhibit 15.1

FOR IMMEDIATE RELEASE

Editorial Contacts:

Joe Greenhalgh, Director, Investor Relations – USA (510) 713-4430

Ben Starkie, Public Relations Manager – Europe +41-(0) 21-863-5195

Nancy Morrison, Director, Corporate Communications – USA (510) 713-4948

Logitech Reports Record Q3 Results

Revenue Up 18 Percent, Operating Income Up 13 Percent; Company Expects To

Exceed Original FY 2005 Goals

FREMONT, Calif., Jan. 19, 2005 and ROMANEL-SUR-MORGES, Switzerland, Jan. 20, 2005 — Logitech International (SWX: LOGN) (Nasdaq: LOGI) today reported record Q3 results, fueled by robust retail sales. For its third fiscal quarter, ended December 31, 2004, sales were $484 million, up 18 percent from $410 million in the same quarter a year ago. Gross margin was 34.8 percent, up from 34.3 percent last year, even with significant freight costs incurred to fulfill higher-than-expected retail demand. Operating income was $73.6 million, up 13 percent from $65.3 million last year. Net income for the quarter was $64.2 million ($1.32 per share), compared with $66.8 million ($1.35 per share) in Q3 of FY 2004, which included a one-time favorable impact of $13.4 million ($.26 per share) from the release of a valuation allowance on specific deferred tax assets. Excluding this amount, net income growth was 20 percent.

Logitech’s retail sales in Q3 increased by 30 percent over the same quarter last year, driven by strong demand across all of the Company’s key product categories. Logitech’s OEM sales, which represented 10 percent of Q3 sales, were down by 34 percent over last year.

Highlights for Logitech’s third fiscal quarter of 2005 include:

• Retail sales of cordless mice increased by 97 percent over the same quarter last year, led by the overwhelmingly popular Logitech® MX^™1000 Laser Cordless Mouse as well as the portfolio of Logitech cordless mice designed for notebook users.

• Retail sales of gaming products were up by 84 percent, led by stellar demand for Logitech’s cordless controllers for the Sony® Playstation®2 and Microsoft® Xbox® consoles.

• An important webcam milestone was reached – users of MSN have logged more than two billion video instant messaging sessions using Webcam for MSN Messenger in just eighteen months of service.

• Cash flow from operations was $63 million, up by $19 million when compared to the same quarter last year.

“Logitech’s Q3 retail sales were spectacular, and exceeded our expectations, with 35 percent growth in North America and 32 percent growth in Europe,” said Guerrino De Luca, Logitech’s president and chief executive officer. “Our retail sales growth in the all-important holiday season is a testament to the strength of our product portfolio, the multiple growth engines of our business, and the attractiveness to the customer of our innovation, design and quality.

“Based on the results of Q3, and entering Q4 with a retail-order backlog significantly higher than that of a year earlier, we now expect our sales growth for FY 2005 to be approximately 15 percent, exceeding the earlier stated target of 11 percent,” continued De Luca. “And, even as we continue to invest for the future, we expect that FY 2005 operating income growth will exceed our stated target of 15 percent over the prior year. For FY 2006, our goal is to deliver growth similar to that currently expected for FY 2005,” said De Luca.

Logitech will hold an earnings teleconference on January 20, 2005 at 8:00 a.m. Eastern Standard Time/14:00 Central European Time to discuss these results. In addition, a live webcast and replay of the teleconference, including presentation slides, will be available on the Logitech corporate Web site at www.logitech.com/investors. Please visit the Web site at least 10 minutes early to register for the teleconference webcast.

About Logitech

Founded in 1981, Logitech designs, manufactures and markets personal peripherals that enable people to effectively work, play, and communicate in the digital world. Logitech International is a Swiss public company traded on the Swiss Stock Exchange (LOGN) 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.

# # #

This press release contains forward-looking statements, including the statements regarding sales and operating income growth for Fiscal Year 2005 and growth for Fiscal Year 2006. These forward-looking statements involve risks and uncertainties that could cause Logitech’s actual performance to differ materially from that anticipated in these forward-looking statements. Factors that could cause actual results to differ materially include our ability to timely introduce successful products, the effect of pricing, product, marketing and other initiatives by our competitors and our reaction to them on our sales, gross margins and profitability, our ability to match production to demand and to coordinate the worldwide manufacturing and distribution of our products in a timely and cost-effective manner, our increased investment in product development, sales, marketing and infrastructure not producing the expected future returns, general economic and political conditions, the effect of fluctuations in exchange rates, as well as generally those additional factors set forth in our periodic filings with the SEC, available at www.sec.gov, including our Report on Form 6-K for the quarter ended September 30, 2004. Logitech does not undertake to update any forward-looking statements.

Logitech, the Logitech logo and other Logitech marks are owned by Logitech and may be registered. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the Company’s Web site at www.logitech.com.

LOGITECH INTERNATIONAL S.A.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share / ADS) - Unaudited

	Quarter Ended December 31
	2004			2003
Net sales	$	483,816		$	409,557
Cost of goods sold		315,488			269,082
Gross profit		168,328			140,475
% of net sales		34.8	%		34.3	%
Operating expenses:
Marketing and selling		61,020			47,751
Research and development		19,160			15,582
General and administration		14,547			11,800
Total operating expenses		94,727			75,133
Operating income		73,601			65,342
Interest income (expense), net		233			(316	)
Other income, net		1,682			1,786
Income before income taxes		75,516			66,812
Provision for income taxes		11,327			12
Net income	$	64,189		$	66,800
Shares used to compute net income per share and ADS:
Basic		43,829			44,879
Diluted		49,176			49,764
Net income per share and ADS:
Basic	$	1.46		$	1.49
Diluted	$	1.32		$	1.35

LOGITECH INTERNATIONAL S.A.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share / ADS) - Unaudited

	Nine Months Ended December 31
	2004			2003
Net sales	$	1,079,978		$	921,342
Cost of goods sold		711,515			627,767
Gross profit		368,463			293,575
% of net sales		34.1	%		31.9	%
Operating expenses:
Marketing and selling		149,822			115,266
Research and development		53,342			44,718
General and administration		40,575			32,977
Total operating expenses		243,739			192,961
Operating income		124,724			100,614
Interest expense, net		(282	)		(1,669	)
Other income, net		3,831			1,493
Income before income taxes		128,273			100,438
Provision for income taxes		19,240			6,737
Net income	$	109,033		$	93,701
Shares used to compute net income per share and ADS:
Basic		44,260			45,427
Diluted		49,518			50,176
Net income per share and ADS:
Basic	$	2.46		$	2.06
Diluted	$	2.25		$	1.91

LOGITECH INTERNATIONAL S.A.

CONSOLIDATED BALANCE SHEETS

(In thousands) - Unaudited

	December 31, 2004		March 31, 2004		December 31, 2003
Current assets
Cash and cash equivalents	$	245,967	$	294,753	$	234,778
Accounts receivable		295,816		206,187		273,326
Inventories		186,003		135,561		140,666
Other current assets		46,229		45,304		51,266
Total current assets		774,015		681,805		700,036
Investments		16,715		16,172		16,189
Property, plant and equipment		47,674		37,308		36,469
Intangible assets
Goodwill		134,807		108,615		108,615
Other intangible assets		17,504		12,543		13,838
Other assets		3,275		9,473		12,072
Total assets	$	993,990	$	865,916	$	887,219
Current liabilities
Short-term debt	$	10,283	$	14,129	$	10,499
Accounts payable		189,063		143,016		179,642
Accrued liabilities		157,362		113,752		122,558
Total current liabilities		356,708		270,897		312,699
Long-term debt		155,485		137,008		142,433
Other liabilities		876		931		3,535
Total liabilities		513,069		408,836		458,667
Shareholders’ equity		480,921		457,080		428,552
Total liabilities and shareholders’ equity	$	993,990	$	865,916	$	887,219

LOGITECH INTERNATIONAL S.A.

SUPPLEMENTAL FINANCIAL INFORMATION

(In thousands) - Unaudited

	Quarter Ended December 31				Nine Months Ended December 31
	2004		2003		2004		2003
Depreciation	$	6,702	$	7,733	$	18,858	$	20,356
Amortization of other acquisition-related intangibles		1,654		1,273		4,635		3,945
Operating income		73,601		65,342		124,724		100,614
Operating income before depreciation and amortization		81,957		74,348		148,217		124,915
Capital expenditures		9,194		5,916		27,522		17,720
Net sales by channel:
Retail	$	433,840	$	333,997	$	942,235	$	738,300
OEM		49,976		75,560		137,743		183,042
Total net sales	$	483,816	$	409,557	$	1,079,978	$	921,342
Net sales by product family:
Retail - Cordless	$	158,625	$	113,106	$	336,275	$	241,554
Retail - Corded		91,000		82,573		220,201		219,051
Retail - Video		57,309		53,600		151,188		112,022
Retail - Audio		51,405		42,937		106,011		90,668
Retail - Gaming		66,639		36,233		107,823		60,669
Retail - Other		8,862		5,548		20,737		14,336
OEM		49,976		75,560		137,743		183,042
Total net sales	$	483,816	$	409,557	$	1,079,978	$	921,342
A reconciliation between net income on a GAAP basis and non-GAAP basis is as follows:
GAAP net income	$	64,189	$	66,800	$	109,033	$	93,701
Less: Release tax valuation allowance (1)		—		13,350		—		13,350
Non-GAAP net income	$	64,189	$	53,450	$	109,033	$	80,351
Shares used to compute net income per share and ADS:
Basic		43,829		44,879		44,260		45,427
Diluted		49,176		49,764		49,518		50,176
Non-GAAP net income per share and ADS:
Basic	$	1.46	$	1.19	$	2.46	$	1.77
Diluted	$	1.32	$	1.09	$	2.25	$	1.64

(1) During the quarter ended December 31, 2003, the Company released a valuation allowance on specific deferred tax assets that was no longer required. As a result, the income tax provision and net income for the quarter ended December 31, 2003, included a one-time favorable impact of $13.4 million. In order to provide investors with information comparable to historically reported data, Logitech believes it is appropriate to provide net income and net income per share excluding the favorable impact of the release of the valuation allowance.