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part i
This Annual Report on Form 10-K is filed with respect to our fiscal year 2005. Each of our fiscal years
ends on the Saturday closest to the last day of March. Our fiscal year 2005 ended on April 2, 2005. For
purposes of consistent presentation, we have indicated in this report that each fiscal year ended ‘‘March 31’’ of the
given year, even though the actual fiscal year end may have been on a different date.
CERTAIN FORWARD-LOOKING INFORMATION
This Annual Report on Form 10-K contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended (the ‘‘Securities Act’’), and Section 21E of the
Securities Exchange Act of 1934, as amended (the ‘‘Exchange Act’’). In addition, we may from time to
time make oral forward-looking statements. These statements may generally be identified by the use of
such words as ‘‘expect,’’ ‘‘anticipate,’’ ‘‘believe,’’ ‘‘intend,’’ ‘‘plan,’’ ‘‘will,’’ or ‘‘shall,’’ and include, but are not
necessarily limited to, all of the statements marked below with an asterisk (‘‘*’’). Such forward-looking
statements are based on current expectations and entail various risks and uncertainties. Our actual results
could differ materially from those anticipated in such forward-looking statements as a result of a number
of factors, including, but not limited to the factors discussed in the subsection entitled ‘‘Risk Factors
Affecting Future Operating Results,’’ in Item 7 of this Form 10-K. This Annual Report on Form 10-K
and our Annual Report to Stockholders should be read in conjunction with these risk factors.
Item 1. Business
HISTORY
Plantronics, Inc. (‘‘Plantronics,’’ ‘‘we’’, ‘‘our,’’ or ‘‘us’’) was founded and incorporated in the state of
California in 1961. Plantronics initially went public in 1977, was taken private in a leveraged buyout in
1989 and was subsequently reincorporated in the state of Delaware. Plantronics went public on the New
York Stock Exchange in 1994 under the ticker symbol of ‘‘PLT’’. We are a leading worldwide designer,
manufacturer and marketer of lightweight communications headsets, telephone headset systems and
accessories for the business and consumer markets. In addition, we manufacture and market specialty
telecommunication products for the hearing-impaired and other related products for people with special
communications needs.
Plantronics headsets are communications tools, providing freedom to use your hands while staying
‘‘connected,’’ freedom to move around, and freedom from keyboards. We apply a variety of technologies
to develop high quality products to meet the needs of our customers, whether it be for communications or
personal entertainment. Plantronics headsets are widely used for cell phones, in contact centers, in the
office, at home for computer applications such as Voice over Internet Protocol (‘‘VoIP’’) and gaming, as
well as other specialty applications.
We sell our broad range of communications products into more than 70 countries through a worldwide
network of distributors, original equipment manufacturers (‘‘OEM’s’’), wireless carriers, retailers and
telephony service providers. We have well-developed distribution channels in North America, Europe
and some of the Asian Pacific countries, where headset use is fairly widespread. Our distribution channels
in other regions of the world are less mature and primarily serve the contact center markets in those
regions.
We operate in one business segment. Our operations are organized functionally. Information required by
Statement of Financial Accounting Standards No. 131 (Disclosures about Segments of an Enterprise and
Related Information) and Item 101(b) of Regulation S-K can be found in the Consolidated Financial
Statements and related notes herein.
Plantronics acquired The Walker Equipment Corporation and Ameriphone, Inc. in 1986 and 2002
respectively. In January 2004, we changed the name of our Walker and Ameriphone businesses to
Clarity˛. Clarity is a leading supplier of telephones with advanced sound processing, notification systems,
AR 2005 ⯗1