form8-k.htm

PRESS RELEASE

FOR INFORMATION, CONTACT:

Greg Klaben

Vice President of Investor Relations

(831) 458-7533

FOR RELEASE at 1 P.M. PST

January 26, 2010

Plantronics Announces Third Quarter Fiscal 2010 Results

Results Exceed Guidance; Company Achieves Targeted Gross & Operating Margins

SANTA CRUZ, CA – January 26, 2010 - Plantronics, Inc. (NYSE: PLT) today announced third quarter fiscal 2010 net revenues of $165.9 million compared with $152.6 million in the third quarter of fiscal 2009. Net revenues were above the previously provided guidance of $155 million to $160 million. Plantronics' GAAP diluted earnings per share from continuing operations were $0.47 in the third quarter of fiscal 2010, compared with diluted earnings per share from continuing operations of $0.13 in the same quarter of the prior year. Non-GAAP diluted earnings per share from continuing operations for the third quarter of fiscal 2010 were $0.50 compared with $0.14 in the third quarter of fiscal 2009 and were greater than the previously provided non-GAAP guidance of $0.38 to $0.42. The difference between GAAP and non-GAAP earnings per share from continuing operations for the third quarter of fiscal 2010 includes stock-based compensation charges, purchase accounting amortization and restructuring and other related charges, all net of associated tax benefits along with the release of $1.2 million in tax reserves.

The Company completed the sale of Altec Lansing, its Audio Entertainment Group (“AEG”) segment, effective as of December 1, 2009. All results of operations related to AEG including the loss on the sale are classified as discontinued operations for all periods presented.

Plantronics also announced that its Board of Directors declared a quarterly dividend of $0.05 per share. The dividend is payable on March 10, 2010 to stockholders of record at the close of business on February 19, 2010.

“Revenues were above expectations as we experienced better than expected demand in our Office & Contact Center product group, including Unified Communications solutions,” stated Ken Kannappan, President & CEO. “Our margins improved as the result of prior cost reduction efforts combined with higher revenues.”

Business Results (Non-GAAP from Continuing Operations)

Comparisons are to the Same Quarter in the Prior Year

Third quarter fiscal 2010 net revenues of $165.9 million increased 9% compared with $152.6 million in the prior year quarter. Improved economic conditions led to increases in net revenues both year over year and sequentially in Office and Contact Center, Mobile, and Gaming & Computer Audio, while revenues from the Clarity group declined compared with the same quarter of the prior year. Geographically, all regions grew year over year and sequentially, except for EMEA which declined year over year but grew by 34% from the previous quarter.

Office and Contact Center net revenues were $103.1 million, an increase of 1% from $101.7 million in the third quarter of fiscal 2009 and a sequential increase of 10% from $93.5 million in the second quarter of fiscal 2010. Mobile headset net revenues were $47.0 million, an increase of 30% from the year ago quarter of $36.0 million, and a sequential increase of 35% from $34.7 million.

Gross margin in the third quarter of fiscal 2010 was 48.9% compared with 40.1% in the third quarter of the prior year and 48.7% in the second quarter of fiscal 2010. The increase in the current quarter as compared to the same period in the prior year is primarily driven by the improved Bluetooth profitability as a result of outsourcing our manufacturing in fiscal 2010. The sequential improvement was primarily driven by an improved product mix.

Operating expenses declined by 6% from $52.2 million in the prior year quarter to $49.2 million in the current quarter. Operating income in the current quarter was $31.8 million compared with guidance of $26 million to $29 million, resulting in an operating margin of 19.2% as compared to operating income of $9.0 million and an operating margin of 5.9% in the prior year quarter.

Business Outlook

The following statements are based on our current expectations and many of these statements are forward-looking. Actual results are subject to a variety of risks and uncertainties and may differ materially from our expectations.

Plantronics has a “book and ship” business model whereby it ships most orders to customers within 48 hours of its receipt of those orders and, therefore, the level of backlog does not provide reliable visibility into potential future revenues. The Company’s business is inherently difficult to forecast, and there can be no assurance that the incoming orders it expects to receive over the balance of the quarter will materialize. With continuing uncertainty resulting from the global economic conditions, the Company’s business remains difficult to forecast. In addition, our incoming order rate tends to be low during the last two weeks of December and the first half of January and then rises significantly into February and March. This pattern may be affected due to uncertainty of the strength of the economic recovery. We have experienced a slow start to this quarter and we therefore must realize an increased incoming order flow for the balance of the quarter in order to achieve the revenue range we are projecting.

Net revenues in the fourth quarter of fiscal 2010 are expected to be lower than the third quarter of fiscal 2010 and higher than the fourth quarter of fiscal 2009.

Subject to the foregoing, we are currently expecting the following range of financial results for continuing operations for the fourth quarter of fiscal 2010:

·	Net revenues of $150 million - $155 million;

·	Non-GAAP operating income of $27 million to $30 million;

·	Non-GAAP earnings per share of $0.40 - $0.44;

·	Non-GAAP tax rate to be approximately 26%;

·	GAAP earnings per share of $0.35 to $0.39.

If these results are achieved, the performance compared with fourth quarter of fiscal 2009 would be revenue growth of approximately 17% to 21%.

Plantronics does not intend to update these targets during the quarter or to report on its progress toward these targets. Plantronics will not comment on these targets to analysts or investors except by its next press release announcing its fourth quarter fiscal 2010 results or by other public disclosure. Any statements by persons outside Plantronics speculating on the progress of the fourth quarter fiscal 2010 will not be based on internal Company information and should be assessed accordingly by investors.

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Conference Call Scheduled to Discuss Actual Financial Results

Plantronics has scheduled a conference call to discuss third quarter fiscal 2010 results. The conference call will take place Tuesday, January 26th at 2:00 PM (PST). All interested investors and potential investors in Plantronics stock are invited to participate. To listen to the call, please dial in five to ten minutes prior to the scheduled starting time and refer to the "Plantronics Conference Call." Participants from North America should call (888) 301-8736 and other participants should call (706) 634-7260.

A replay of the call with the conference ID #40971882 will be available for 72 hours at (800) 642-1687 for callers from North America and at (706) 645-9291 for all other callers. The conference call will also be simultaneously web cast at www.plantronics.com under Investor Relations, and the web cast of the conference call will remain available at the Plantronics website for thirty days.

Use of Non-GAAP Financial Information

Plantronics excludes non-recurring transactions and non-cash expenses and charges such as restructuring and other related charges, the release of certain tax reserves, stock-based compensation expenses related to stock options, awards and employee stock purchases, purchase accounting amortization and impairment of goodwill and long-lived assets from non-GAAP income from continuing operations, non-GAAP earnings per diluted share from continuing operations, non-GAAP operating income, non-GAAP gross margin, non-GAAP operating margin and non-GAAP effective tax rate on continuing operations. Plantronics excludes these expenses from its non-GAAP measures primarily because Plantronics does not believe they are reflective of ongoing operating results and are not considered as part of its target operating model. Plantronics believes that the use of non-GAAP financial measures provides meaningful supplemental information regarding its performance and liquidity, and helps investors compare actual results to its long-term target operating model goals. Plantronics believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning, forecasting and analyzing future periods.

Safe Harbor

This release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to (i) our estimates of GAAP and non-GAAP financial results for the fourth quarter of fiscal 2010, including revenue and earnings per share; (ii) our estimated tax rate for the fourth quarter of fiscal 2010; (iii) our estimated stock-based compensation expense for the fourth quarter of fiscal 2010, as well as other matters discussed in this press release that are not purely historical data. Plantronics does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.

Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contemplated by such statements. Among the factors that could cause actual results to differ materially from those contemplated are:

·	economic conditions in both the domestic and international markets;

·	fluctuations in foreign exchange rates;

·	the bankruptcy or financial weakness of distributors or key customers, or the bankruptcy of or reduction in capacity of our key suppliers;

·	the effect of restructuring actions on GAAP results;

our ability to realize our Unified Communications (“UC”) plans and to achieve the financial results projected to arise from UC adoption could be adversely affected by the following factors: (i) as UC becomes more widely adopted, the risk that competitors will offer solutions that will effectively commoditize our headsets which, in turn, will reduce the sales prices for our headsets; (ii) our plans are dependent upon adoption of our UC solution by major platform providers such as Microsoft, Avaya, IBM and Cisco, and we have a limited ability to influence such providers with respect to the functionality of their platforms, their rate of deployment, and their willingness to integrate their platforms with our solutions; (iii) the development of UC solutions is technically complex and this may delay or obstruct our ability to introduce solutions to the market on a timely basis and that are cost effective, feature rich, stable and attractive to our customers; (iv) as UC becomes more widely adopted we anticipate that competition for market share will increase, and some competitors may have superior technical and economic resources; (v) UC solutions may not be adopted with the breadth and speed in the marketplace that we currently anticipate, and (vi) our support expenditures may substantially increase over time due to the complex nature of the platforms developed by the major UC providers as these platforms continue to evolve and become more commonly adopted;

·	failure to match production to demand given long lead times and the difficulty of forecasting unit volumes and acquiring the component parts to meet demand without having excess inventory or incurring cancellation charges;

·	further impairment losses on the carrying value of our intangible assets and goodwill could be recognized if it is determined the value is not recoverable which would adversely affect our financial results;

·	volatility in prices from our suppliers, including our manufacturers located in China, have and could negatively affect our profitability and/or market share;

·	the effects of the sale of AEG, including the level of cash flow and the timing of the receipt of any cash flow resulting from such sale are uncertain; and

additional risk factors including: interruption in the supply of sole-sourced critical components, continuity of component supply at costs consistent with our plans, the inherent risks of our substantial foreign operations, and problems which might affect our manufacturing facilities in Mexico, and unexpected delays and uncertainties affecting our ability to realize targeted expense reductions and annualized savings by outsourcing the manufacturing of our Bluetooth products in China to GoerTek, Inc.

For more information concerning these and other possible risks, please refer to the Company’s Annual Report on Form 10-K filed May 26, 2009, quarterly reports filed on Form 10-Q and other filings with the Securities and Exchange Commission as well as recent press releases. These filings can be accessed over the Internet at http://www.sec.gov/edgar/searchedgar/companysearch.html.

Financial Summaries

The following related charts are provided:

·	Summary Unaudited Condensed Consolidated Financial Statements

·	Unaudited GAAP to Non-GAAP Statements of Operations Reconciliations for the Three and Nine Months ended December 31, 2009 and December 31, 2008

·	Summary Unaudited Statements of Operations and Related Data on a Non-GAAP Basis

About Plantronics

Plantronics is a world leader in personal audio communications for professionals and consumers. From unified communication solutions to Bluetooth headsets, Plantronics delivers unparalleled audio experiences and quality that reflect our nearly 50 years of innovation and customer commitment. Plantronics is used by every company in the Fortune 100 and is the headset of choice for air traffic control, 911 dispatch and the New York Stock Exchange. For more information, please visit www.plantronics.com or call (800) 544-4660.

Plantronics, the logo design, Clarity and Savi are trademarks or registered trademarks of Plantronics, Inc. The Bluetooth name and the Bluetooth trademarks are owned by Bluetooth SIG, Inc. and are used by Plantronics, Inc. under license. All other trademarks are the property of their respective owners.

###

PLANTRONICS, INC. / 345 Encinal Street / P.O. Box 1802 / Santa Cruz, California 95061-1802

831-426-6060 / Fax 831-426-6098

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PLANTRONICS, INC.
SUMMARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(in thousands, except per share data and percentages)

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2008			2009			2008			2009

Net revenues	$	152,616		$	165,935		$	546,492		$	451,555
Cost of revenues		92,199			85,566			304,159			238,251
Gross profit		60,417			80,369			242,333			213,304
Gross profit %		39.6	%		48.4%			44.3	%		47.2	%

Research, development and engineering		16,645			14,780			50,721			41,991
Selling, general and administrative		38,579			37,502			123,887			103,599
Restructuring and other related charges		288			332			288			1,767
Total operating expenses		55,512			52,614			174,896			147,357
Operating income		4,905			27,755			67,437			65,947
Operating income %		3.2	%		16.7	%		12.3	%		14.6	%

Interest and other income (expense), net		(1,499	)		1,422			(3,129	)		3,653
Income from continuing operations before income taxes		3,406			29,177			64,308			69,600
Income tax expense (benefit) from continuing operations		(2,748	)		5,974			11,464			17,562
Income from continuing operations, net of tax		6,154			23,203			52,844			52,038
Discontinued operations:
Loss from operations of discontinued AEG segment (including loss on sale of AEG)		(124,418	)		(515	)		(137,221	)		(30,292	)
Income tax benefit on discontinued operations		(26,255	)		(562	)		(30,510	)		(11,408	)
Income (loss) on discontinued operations		(98,163	)		47			(106,711	)		(18,884	)
Net income (loss)	$	(92,009	)	$	23,250		$	(53,867	)	$	33,154

% of net revenues		(60.3)	%		14.0	%		(9.9)	%		7.3	%

Earnings (loss) per common share:
Basic
Continuing operations	$	0.13		$	0.48		$	1.09		$	1.07
Discontinued operations	$	(2.03	)	$	0.00		$	(2.19	)	$	(0.39	)
Net income (loss)	$	(1.90	)	$	0.48		$	(1.11	)	$	0.68

Diluted
Continuing operations	$	0.13		$	0.47		$	1.08		$	1.06
Discontinued operations	$	(2.02	)	$	0.00		$	(2.17	)	$	(0.38	)
Net income (loss)	$	(1.90	)	$	0.47		$	(1.10	)	$	0.67

Shares used in computing earnings (loss) per share:
Basic		48,449			48,632			48,641			48,632
Diluted		48,522			49,625			49,113			49,304

Tax rate from continuing operations		(80.7)	%		20.5	%		17.8	%		25.2	%

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PLANTRONICS, INC.
SUMMARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(in thousands, except per share data and percentages)


UNAUDITED CONSOLIDATED BALANCE SHEETS

	March 31,		December 31,
	2009		2009
ASSETS
Cash and cash equivalents	$	158,193	$	283,503
Short-term investments		59,987		33,222
Total cash, cash equivalents, and short-term investments		218,180		316,725
Accounts receivable, net		83,657		113,291
Inventory, net		119,296		70,914
Deferred income taxes		12,486		10,097
Other current assets		29,936		33,219
Assets held for sale		-		8,926
Total current assets		463,555		553,172
Long-term investments		23,718		-
Property, plant and equipment, net		95,719		67,866
Intangibles, net		26,575		3,758
Goodwill		14,005		14,005
Other assets		9,548		3,168
Total assets	$	633,120	$	641,969

LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	32,827	$	31,397
Accrued liabilities		53,143		56,993
Total current liabilities		85,970		88,390
Deferred tax liability		8,085		58
Long-term income taxes payable		12,677		13,506
Other long-term liabilities		1,021		958
Total liabilities		107,753		102,912
Stockholders' equity		525,367		539,057
Total liabilities and stockholders' equity	$	633,120	$	641,969

- - 7 -


PLANTRONICS, INC.
UNAUDITED GAAP TO NON-GAAP RECONCILIATION
(in thousands, except per share data and percentages)

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
	Three Months Ended										Nine Months Ended
	December 31, 2009										December 31, 2009
	GAAP			Excluded				Non-GAAP			GAAP			Excluded				Non-GAAP

Net revenues	$	165,935		$	-			$	165,935		$	451,555		$	-			$	451,555
Cost of revenues		85,566			(698	)	(1)		84,868			238,251			(7,202	)	(2)		231,049
Gross profit		80,369			698				81,067			213,304			7,202				220,506
Gross profit %		48.4	%						48.9	%		47.2	%						48.8	%

Research, development and engineering		14,780			(825	)	(1)		13,955			41,991			(2,453	)	(1)		39,538
Selling, general and administrative		37,502			(2,219	)	(1)		35,283			103,599			(6,435	)	(1)		97,164
Restructuring and other related charges		332			(332	)	(3)		-			1,767			(1,767	)	(3)		-
Total operating expenses		52,614			(3,376	)			49,238			147,357			(10,655	)			136,702
Operating income		27,755			4,074				31,829			65,947			17,857				83,804
Operating income %		16.7	%						19.2	%		14.6	%						18.6	%

Interest and other income (expense), net		1,422			-				1,422			3,653			-				3,653
Income from continuing operations before income taxes		29,177			4,074				33,251			69,600			17,857				87,457
Income tax expense from continuing operations		5,974			2,303		(4)		8,277			17,562			4,826		(4)		22,388
Income from continuing operations, net of tax	$	23,203		$	1,771			$	24,974		$	52,038		$	13,031			$	65,069

% of net revenues		14.0	%						15.1	%		11.5	%						14.4	%

Diluted earnings per common share from continuing operations	$	0.47						$	0.50		$	1.06						$	1.32
Shares used in diluted per share calculations		49,625							49,625			49,304							49,304

(1) Excluded amount represents stock-based compensation and purchase accounting amortization.

(2) Excluded amount represents stock-based compensation, purchase accounting amortization and $5,205 of accelerated depreciation on assets related to restructuring activity.

(3) Excluded amount represents restructuring and other related charges.

(4) Excluded amount represents tax benefit from stock-based compensation, purchase accounting amortization and restructuring and other related charges and $1,156 related to a tax benefit from expiration

of certain statutes of limitations.

Use of Non-GAAP Financial Information

To supplement our consolidated financial statements presented on a GAAP basis, Plantronics uses non-GAAP measures of operating results from continuing operations, which are adjusted to exclude non-recurring and non-cash expenses and charges, such as restructuring and other related charges, certain tax credits and the release of certain tax reserves, stock-based compensation expenses related to stock options, awards and employee stock purchases, purchase accounting amortization and impairment of goodwill and long-lived assets. Plantronics does not believe these expenses and charges are reflective of ongoing operating results and are not part of our target operating model. We have presented non-GAAP statements that only show our results to the income from continuing operations after tax line. The non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and the reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by Plantronics may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

- - 8 -


PLANTRONICS, INC.
UNAUDITED GAAP TO NON-GAAP RECONCILIATION
(in thousands, except per share data and percentages)

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
	Three Months Ended										Nine Months Ended
	December 31, 2008										December 31, 2008
	GAAP			Excluded				Non-GAAP			GAAP			Excluded				Non-GAAP

Net revenues	$	152,616		$	-			$	152,616		$	546,492		$	-			$	546,492
Cost of revenues		92,199			(758	)	(1)		91,441			304,159			(2,549	)	(1)		301,610
Gross profit		60,417			758				61,175			242,333			2,549				244,882
Gross profit %		39.6	%						40.1	%		44.3	%						44.8	%

Research, development and engineering		16,645			(821	)	(1)		15,824			50,721			(2,815	)	(1)		47,906
Selling, general and administrative		38,579			(2,224	)	(1)		36,355			123,887			(7,389	)	(1)		116,498
Restructuring and other related charges		288			(288	)	(2)		-			288			(288	)	(2)		-
Total operating expenses		55,512			(3,333	)			52,179			174,896			(10,492	)			164,404
Operating income		4,905			4,091				8,996			67,437			13,041				80,478
Operating income %		3.2	%						5.9	%		12.3	%						14.7	%

Interest and other income (expense), net		(1,499	)		-				(1,499	)		(3,129	)		-				(3,129	)
Income from continuing operations before income taxes		3,406			4,091				7,497			64,308			13,041				77,349
Income tax expense (benefit) from continuing operations		(2,748	)		3,241		(3)		493			11,464			7,910		(4)		19,374
Income from continuing operations, net of tax	$	6,154		$	850			$	7,004		$	52,844		$	5,131			$	57,975

% of net revenues		4.0	%						4.6	%		9.7	%						10.6	%

Diluted earnings per common share from continuing operations	$	0.13						$	0.14		$	1.08						$	1.18
Shares used in diluted per share calculations		48,522							48,522			49,113							49,113

(1) Excluded amount represents stock-based compensation and purchase accounting amortization.

(2) Excluded amount represents restructuring and other related charges.

(3) Excluded amount represents tax benefit from stock-based compensation, purchase accounting amortization and restructuring and other related charges and $2,078 related to a tax benefit from expiration

of certain statutes of limitations.

(4) Excluded amount represents tax benefit from stock-based compensation, purchase accounting amortization and restructuring and other related charges and $3,813 related to a tax benefit from expiration

of certain statutes of limitations.

Use of Non-GAAP Financial Information

- - 9 -

Summary of Unaudited Statements of Operations and Related Data - Non-GAAP on Income From Continuing Operations
(in thousands, except per share data, percentages, DSO, and Inventory turns)

		Q109			Q209			Q309			Q409		FY09				Q110			Q210			Q310
Net revenues	$	198,527		$	195,349		$	152,616		$	128,098		$	674,590		$	141,162		$	144,458		$	165,935
Cost of revenues		108,449			101,720			91,441			77,834			379,444			72,036			74,145			84,868
Gross profit		90,078			93,629			61,175			50,264			295,146			69,126			70,313			81,067
Gross profit %		45.4	%		47.9	%		40.1	%		39.2	%		43.8	%		49.0	%		48.7	%		48.9	%

Research, development and engineering		16,204			15,878			15,824			12,247			60,153			12,850			12,733			13,955
Selling, general and administrative		40,369			39,774			36,355			29,629			146,127			31,058			30,823			35,283
Operating expenses		56,573			55,652			52,179			41,876			206,280			43,908			43,556			49,238

Operating income		33,505			37,977			8,996			8,388			88,866			25,218			26,757			31,829
Operating income %		16.9	%		19.4	%		5.9	%		6.5	%		13.2	%		17.9	%		18.5	%		19.2	%

Income from continuing operations before income taxes		35,045			34,807			7,497			7,973			85,322			26,565			27,641			33,251
Income tax expense from continuing operations		8,763			10,118			493			4,396			23,770			7,172			6,939			8,277
Income tax expense as a percent
of income from continuing operations before taxes		25.0	%		29.1	%		6.6	%		55.1	%		27.9	%		27.0	%		25.1	%		24.9	%

Income from continuing operations, net of tax	$	26,282		$	24,689		$	7,004		$	3,577		$	61,552		$	19,393		$	20,702		$	24,974

Diluted EPS - Continuing operations	$	0.53		$	0.50		$	0.14		$	0.07		$	1.26		$	0.40		$	0.42		$	0.50
Diluted shares outstanding		49,245			49,489			48,522			48,431			48,947			48,665			49,567			49,625

Net revenues from unaffiliated customers:
Office and Contact Center	$	122,803		$	119,530		$	101,694		$	85,642		$	429,669		$	95,923		$	93,503		$	103,096
Mobile		59,882			60,911			36,011			30,615			187,419			32,310			34,665			46,951
Gaming and Computer Audio		9,621			8,977			8,531			6,923			34,052			8,810			9,015			11,072
Clarity		6,221			5,931			6,380			4,918			23,450			4,119			7,275			4,816

Net revenues by geographic area
from unaffiliated customers:
Domestic	$	123,603		$	129,789		$	91,594		$	79,304		$	424,290		$	88,789		$	93,370		$	99,157
International		74,924			65,560			61,022			48,794			250,300			52,373			51,088			66,778

Balance Sheet accounts and metrics:
Accounts receivable, net 1	$	130,530		$	115,032		$	106,463		$	83,657		$	83,657		$	88,350		$	103,003		$	113,291
Days sales outstanding (DSO) 1		59			54			63			59						56			64			61
Inventory, net (2)	$	116,379		$	135,736		$	114,423		$	100,171		$	100,171		$	90,258		$	78,026		$	70,914
Inventory turns (2)		3.7			3.0			3.2			3.1						3.2			3.8			4.8

1 Accounts receivable, net is presented on a consolidated basis including discontinued operations as Plantronics does not maintain balance by segment; DSO is calculated on revenues from continuing operations and consolidated Accounts receivable.
2 Inventory, net and inventory turns reflect amounts in continuing operations only.

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Delaware	1-12696	77-0207692
(State or Other Jurisdiction of Incorporation)	(Commission file number)	(I.R.S. Employer Identification Number)


	PLANTRONICS, INC.

Date: January 26, 2010	By:	/s/ Barbara Scherer
		Barbara Scherer
		Senior Vice President and Chief Financial Officer