-----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, NRT5twnMpgHLidNoz0Ht0+/gyHcJ3O38itxAbM0wJoR2pR7aCzEJkjZQU2xhgmh2 3lYIE45XI1p6ZWLHP1CyCA== 0000914025-11-000015.txt : 20110302 0000914025-11-000015.hdr.sgml : 20110302 20110302130432 ACCESSION NUMBER: 0000914025-11-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110302 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110302 DATE AS OF CHANGE: 20110302 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: 11655271 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 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, 2011

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 2, 2011, 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









 

 
2

 




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 2, 2011
By:
/s/ Barbara V. Scherer 
 
Name:
Barbara V. Scherer
 
Title:
Senior Vice President and Chief Financial Officer


 
 

 

 
3

 

 

 
EXHIBIT INDEX
 

Exhibit Number
Exhibit Description



 
 

 

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


PRESS RELEASE
 
INVESTOR CONTACT:
Greg Klaben
Vice President of Investor Relations
(831) 458-7533
 
 
MEDIA CONTACT:
Russell Castronovo
Director of Global Communications
(831) 458-7598
 
Plantronics Announces One Million Share Repurchase Program
 

 
Santa Cruz, CA–March 2, 2011 - Plantronics, Inc., (NYSE: PLT) today announced that its Board of Directors has authorized a new 1,000,000 share repurchase program to follow the program announced in August 2010.  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 this being our 24th repurchase program since fiscal 1997.  We believe that our cash on hand and future cash flows provide sufficient liquidity to support an additional 1,000,000 share repurchase program,” 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, cash on hand and 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.  Thes e 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 June 1, 2010, 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 global leader in audio communications for businesses and consumers. We have pioneered new trends in audio technology for 50 years, creating innovative products that allow people to simply communicate.  From Unified Communication solutions to Bluetooth headsets, we deliver uncompromising quality, an ideal experience, and extraordinary service. Plantronics is used by every company in the Fortune 100, as well as 911 dispatch, air traffic control and the New York Stock Exchange.  For more information, please visit www.plantronics.com or call (800) 544-4660.

 
Plantronics, the logo design, and Clarity 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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-----END PRIVACY-ENHANCED MESSAGE-----