-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PcOk8xQ9VIS+kupPMiYZ1DUNuvZ0hxcTqex5MLN1jz+otIFY/QOEPa+yHGJzYufN ccHY5kNViJDKCM2u/adr2w== 0000914025-10-000010.txt : 20100303 0000914025-10-000010.hdr.sgml : 20100303 20100303141620 ACCESSION NUMBER: 0000914025-10-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100301 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100303 DATE AS OF CHANGE: 20100303 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLANTRONICS INC /CA/ CENTRAL INDEX KEY: 0000914025 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 770207692 STATE OF INCORPORATION: DE FISCAL YEAR END: 1013 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12696 FILM NUMBER: 10652830 BUSINESS ADDRESS: STREET 1: 345 ENCINAL ST CITY: SANTA CRUZ STATE: CA ZIP: 95061-1802 BUSINESS PHONE: 8314265858 MAIL ADDRESS: STREET 1: 345 ENCINAL STREET STREET 2: PO BOX 1802 CITY: SANTA CRUZ STATE: CA ZIP: 95061-1802 FORMER COMPANY: FORMER CONFORMED NAME: PI PARENT CORP DATE OF NAME CHANGE: 19931025 8-K 1 form8-k.htm SHARE REPURCHASE 3-01-2010 form8-k.htm






UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):  March 1, 2010

Plantronics, Inc.

(Exact name of Registrant as Specified in its Charter)


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

345 Encinal Street
Santa Cruz, California 95060
(Address of Principal Executive Offices including Zip Code)

(831) 426-5858
(Registrant's Telephone Number, Including Area Code)


N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





 

 
 
 

 
Item 8.01
Other Events.

On March 1, 2010, Plantronics, Inc. issued a press release announcing a 1,000,000 share repurchase program.  A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01
Financial Statements and Exhibits.
 
 
 (d) Exhibits

The following exhibit is furnished as part of this report.

Exhibit Number
Description

99.1
Press release issued by Plantronics, Inc., dated March 1, 2010, entitled “Plantronics Announces One Million Share Repurchase Program”








 

 
 

 




SIGNATURE

            Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
 
PLANTRONICS, INC.
     
Date: March 3, 2010
By: 
/s/ Barbara Scherer
 
Barbara Scherer
 
Senior Vice President and Chief Financial Officer
 

 
 

 

 
 

 

 
 
EXHIBIT INDEX
 

Exhibit Number
Exhibit Description



 
 
 
 


EX-99.1 2 ex99-1.htm EXHIBIT 99.1 - PRESS RELEASE - SHARE REPURCHASE ex99-1.htm



PRESS RELEASE
 
FOR INFORMATION, CONTACT:
Greg Klaben
Vice President of Investor Relations
(831) 458-7533
 
 
March 1, 2010
 
Plantronics Announces One Million Share Repurchase Program

 
Santa Cruz, CA–March 1, 2010 - Plantronics, Inc., (NYSE: PLT) today announced that its Board of Directors has authorized a new 1,000,000 share repurchase program to follow the nearly completed program announced in November 2009.  Under the repurchase program, Plantronics will, from time to time, purchase shares of its common stock, depending upon market conditions, in open market or privately negotiated transactions. 
 
“We have a consistent record of share repurchases, with over 22 million shares repurchased since fiscal 1997.  We believe that our future cash flows will provide sufficient liquidity to support an additional 1,000,000 share repurchase program.  In addition, our cash, cash equivalents and marketable securities position of over $316 million as of December 31, 2009 combined with no debt places Plantronics in a very strong financial position,” stated Barbara Scherer, Senior Vice President and Chief Financial Officer of Plantronics.  “We purchase shares when we believe it will be strongly accretive to earnings per share to do so in comparison to alternative investment choices.  Our Board of Directors believes that Plantronics’ stock presents an attractive investment for the Company and its stockholders,” she continued.
 
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 that the Company will generate future cash flow, repurchase of Company stock constitutes an opportunity to increase shareholder value, future cash flows should provide sufficient liquidity to support another share repurchase program, and  the repurchase of our stock represents an attractive investment.  There are important factors that could cause actual results to differ materially from those anticipated by any such statements.  These risks include, but are not limited to:  (1) failure to achieve the anticipated levels of cash generation due to lower sales, increased costs, higher inventories, slow collection of accounts receivable or other factors; (2) increases in the yield which could be obtained from alternative investment of the funds used to repurchase stock;  and (3) an increased need for cash reserves beyond the levels presently anticipated, 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.
 
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.
 
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 and the logo design are trademarks or registered trademarks of Plantronics, Inc.  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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-----END PRIVACY-ENHANCED MESSAGE-----