0000914025-16-000079.txt : 20160707 0000914025-16-000079.hdr.sgml : 20160707 20160707091120 ACCESSION NUMBER: 0000914025-16-000079 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160707 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160707 DATE AS OF CHANGE: 20160707 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: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12696 FILM NUMBER: 161755584 BUSINESS ADDRESS: STREET 1: 345 ENCINAL ST CITY: SANTA CRUZ STATE: CA ZIP: 95061-1802 BUSINESS PHONE: 8314587828 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 july2016gnlitigation8-k.htm 8-K Document


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):
 July 7, 2016

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 No.)

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)


Not Applicable
(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 2.02 Results of Operations and Financial Condition

On July 7, 2016, Plantronics, Inc. ("the Company"), a Delaware corporation, issued a press release in which it announced preliminary revenue and earning per share results for the first quarter of fiscal year 2017, which ended on July 2, 2016, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 2.02 as well as Exhibit 99.1, attached hereto, is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act") or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure

On July 7, 2016, the Company issued a press release entitled “Plantronics Announces Result of Motion for Sanctions Related to the GN Netcom Litigation," a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 7.01 as well as Exhibit 99.1, attached hereto, is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

The following exhibits are filed as part of this Current Report on Form 8-K:







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. 

 
  
 
 
Date: 
July 7, 2016
PLANTRONICS, INC.
 
 
 
 
 
 
By:
/s/ Pamela Strayer

 
 
Name:
Pamela Strayer
 
 
Title:
Senior Vice President and Chief Financial Officer




EX-99.1 2 july2016litigationrelease.htm EXHIBIT 99.1 Exhibit



PRESS RELEASE

INVESTOR CONTACT:
Greg Klaben
Vice President of Investor Relations
(831) 458-7533
MEDIA CONTACT:
George Gutierrez
Sr. Director, Global Communications & Content Strategy
(831) 458-7537

 
Plantronics Announces Result of Motion for Sanctions Related to the GN Netcom Litigation
 
The Company also Announced Preliminary Revenue and EPS Results for Q1 FY2017

SANTA CRUZ, CA – July 7, 2016 - Plantronics, Inc. (NYSE: PLT) (“Plantronics” or the “Company”) today announced an expected charge of approximately $5 million in Q1 FY 2017 related to the ongoing litigation with GN Netcom, Inc. (“GN”). The Company also announced preliminary results for Q1 Fiscal Year 2017, with revenue expected to be above its previously provided guidance range of $207 million to $217 million, and both GAAP and Non-GAAP EPS are expected to be in the middle to the high end of previously provided guidance ranges after recording the impact of this charge. Prior to this charge, GAAP and Non-GAAP EPS would have been significantly above the high end of the guidance range. This information is preliminary and subject to completion of quarter-end financial reporting processes and reviews.

The charge results from an order (“Order”) of the United States District Court for the District of Delaware (the “Court”) in connection with a Motion for Sanctions brought by GN in connection with allegations of spoliation of evidence. On July 6, 2016, the Court entered the Order and imposed the following sanctions: 

Monetary sanctions in the form of the reasonable fees and costs incurred by GN in connection with the disputes leading to the Order;
Punitive sanctions against Plantronics in the amount of $3 million;
Possible evidentiary sanctions, if requested by GN Netcom and found by the Court to be warranted as this case progresses toward trial; and
Instructions to the jury that it may draw an adverse inference that emails destroyed by Plantronics would have been favorable to GN's case and/or unfavorable to Plantronics' defense

The Company believes that this Order may be appealed and reversed upon a favorable resolution of the underlying antitrust case. The Company also believes that the underlying antitrust action is without merit and intends to defend itself vigorously. The Company is not accruing any financial damages related to the antitrust case.

Safe Harbor

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to the estimated charge related to ongoing litigation with GN Netcom, Inc. (“GN”) and the Company’s strategies and expectations regarding the litigation with GN, as well as the Company’s preliminary financial results for Q1 fiscal year 2017 in addition to 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, except as required by applicable law.

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 include, changes and developments in the litigation with GN, including additional rulings by the Court, changes in our assumptions or judgments regarding the litigation with GN and completion of our quarter end financial reporting and review processes.



1



For more information concerning these and other possible risks, please refer to our Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 16, 2016 and other filings with the Securities and Exchange Commission, as well as recent press releases. The Securities and Exchange Commission filings can be accessed over the Internet at www.sec.gov or on our website at investor.plantronics.com/docs.

About Plantronics

Plantronics is a global leader in audio communications for businesses and consumers. We have pioneered new trends in audio technology for over 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 is a registered trademark 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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