-----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, OJoaRWQOWXaM8sA+HXLJxrusdSsGzwk49r2N/VevhgmrsVW+cBdqS9VKJ7LppjVa NYaiZrRho6CBAulk1RKAbg== 0000914025-05-000013.txt : 20050218 0000914025-05-000013.hdr.sgml : 20050218 20050218163852 ACCESSION NUMBER: 0000914025-05-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050217 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050218 DATE AS OF CHANGE: 20050218 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: 0329 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12696 FILM NUMBER: 05628046 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 stkrep8k.htm PLANTRONICS INC. SHARE REPURCHASE PROGRAM Plantronics Inc. Share Repurchase Program

 
 
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): FEBRUARY 18, 2005
 
Plantronics, Inc.
 
(Exact name of Registrant as Specified in its Charter)
 
 
  Delaware
1-12696
77-0207692
(State or Other Jurisdiction of Incorporation or Organization) 
(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 February 17, 2005, Plantronics, Inc. announced an increase of one million shares to its share repurchase program to take effect immediately. 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.
 
The following exhibits are furnished as part of this report:
 
Exhibit Number
Description

99.1
Press Release issued by Plantronics, Inc. dated February 17, 2005.

 


 
 
 
 
 
PLANTRONICS, INC.
 
 
 
 
 
 
Date: February 18, 2005
By:  
/s/ Barbara Scherer
 
Barbara Scherer
 
Senior Vice President and Chief Financial Officer
 
 
 


 
 
EXHIBIT INDEX
 
Exhibit Number
Description

99.1
Press Release issued by Plantronics, Inc. dated February 17, 2005.

 EX-99.1 2 exh99-1.htm PLANTRONICS INC. PRESS RELEASE SHARE REPURCHASE PROGRAM Plantronics Inc. Press Release Share Repurchase Program
 
PRESS RELEASE
 
PLANTRONICS ANNOUNCES 1 MILLION SHARE REPURCHASE PROGRAM
 
FOR INFORMATION, CONTACT:
Jon Alvarado
Treasury and Investor Relations Manager
(831) 458-7533
FOR IMMEDIATE RELEASE
February 17, 2005


Santa Cruz, California (February 17, 2005) Plantronics, Inc., (NYSE: PLT) today announced that it had completed purchases under its former stock repurchase program and has authorized a new 1,000,000-share program. Pursuant to the Stock Repurchase Program, the Company will, from time to time, purchase shares of its common stock, depending upon market conditions, in open market or privately negotiated transactions. Barbara V. Scherer, Senior Vice President and Chief Financial Officer of Plantronics, noted, "Plantronics continues to generate positive cash flow and we believe it is prudent to use a portion of this cash to increase shareholder value through the repurchase of our stock. We purchase shares when we believe it should be strongly accretive to EPS to do so compared with alternative investment choices."
 
"Headsets have become mainstream; Plantronics alone shipped 22.5 million last year, up 64% from 2003. Despite that increase in the number of people using our products, adoption remains low and the addressable market opportunity remains compelling. We are thus optimistic about the long term opportunity for growth in our markets," stated Ken Kannappan, President and CEO of Plantronics. "Our Board of Directors believes that Plantronics stock presents an attractive investment for the Company and its stockholders," Kannappan concluded.

About Plantronics
Plantronics introduced the first lightweight communications headset in 1962 and is recognized as the world leader in communications headsets. A publicly held company with approximately 3,900 employees, Plantronics is the leading provider of headsets to telephone companies and the business community worldwide.

Plantronics headsets are also used widely in many Fortune 500 corporations and have been featured in numerous motion pictures and high-profile events, including Neil Armstrong’s historic "One small step for man" transmission from the moon in 1969. Plantronics, Inc., headquartered in Santa Cruz, California, was founded in 1961 and maintains offices in 20 countries. Plantronics products are sold and supported through a worldwide network of authorized Plantronics marketing partners. Information about the company and its products can be found at www.plantronics.com or by calling (800) 544-4660.



Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties, including the statements in the second paragraph of this release that the Company continues to generate positive cash flow, repurchase of Company stock constitutes an opportunity to increase shareholder value, and that 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; 3) an increased need for cash reserves beyond the levels presently anticipated, and 4) failure of adoption of headsets by office professionals and others to increase. For more information concerning these and other possible risks, please refer to the Company’s Form 10-K filed on May 26, 2004, filings 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 www.sec.gov/edgar/searchedgar/companysearch.html .. Plantronics disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this release.

 
Plantronics is a registered trademark of Plantronics, Inc. All other products or service names mentioned herein are trademarks of their respective owners. 
 
 
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