Plantronics 2008 Annual Report Download - page 88

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82
SUPPLEMENTARY QUARTERLY FINANCIAL DATA
(Unaudited)
June 30, Sept. 30, Dec. 31, Mar. 31,
2006
1
2006 2006 2007
Net revenues $ 195,069 $ 194,934 $ 215,435 $ 194,716
Gross profit $ 75,599 $ 76,895 $ 80,851 $ 75,470
Net income $ 12,291 $ 12,525 $ 15,190 $ 10,137
Basic net income per common share $ 0.26 $ 0.27 $ 0.32 $ 0.21
Diluted net income per common share $ 0.25 $ 0.26 $ 0.32 $ 0.21
Cash dividends declared per common share $ 0.05 $ 0.05 $ 0.05 $ 0.05
June 30, Sept. 30, Dec. 31, Mar. 31,
2007
1
2007 2007
2
2008
2,3
Net revenues $ 206,495 $ 208,224 $ 232,824 $ 208,743
Gross profit $ 83,546 $ 84,456 $ 93,757 $ 87,346
Net income $ 14,975 $ 16,522 $ 19,108 $ 17,790
Basic net income per common share $ 0.31 $ 0.34 $ 0.39 $ 0.37
Diluted net income per common share $ 0.31 $ 0.34 $ 0.39 $ 0.36
Cash dividends declared per common share $ 0.05 $ 0.05 $ 0.05 $ 0.05
Quarter Ended
(in thousands, except income per share)
Quarter Ended
(in thousands, except income per share)
Each of the Company’s fiscal years ends on the Saturday closest to the last day of March. The Company’s current and prior fiscal
years consist of 52 weeks and each fiscal quarter consists of 13 weeks. Our interim fiscal quarters for the first, second, third and
fourth quarter of fiscal 2007 ended on July 1, 2006, September 30, 2006, December 30, 2006 and March 31, 2007, respectively, and
our interim fiscal quarters for the first, second, third and fourth quarter of fiscal 2008 ended on June 30, 2007, September 29, 2007,
December 29, 2007 and March 29, 2008, respectively. For purposes of presentation, the Company has indicated its accounting year
ended on March 31 and our interim quarterly periods as ending on the applicable month end.
1In the first quarter of fiscal 2007, the Company sold a parcel of land in Frederick, Maryland and recorded a gain of $2.6 million
on the sale of this property.
2In November 2007, the Company announced plans to close AEG’s manufacturing facility in Dongguan, China, to shut down a
related Hong Kong research and development, sales and procurement office and to consolidate procurement, research and
development activities for AEG in the Shenzhen, China site. As a result of these activities, $2.9 million and $0.7 million in
restructuring and other related charges was recorded in the third and fourth quarters of fiscal 2008, respectively.
3In the fourth quarter of fiscal 2008, the Company recorded adjustments to foreign currency gains and losses recognized in prior
periods, a correction of depreciation expense and income tax expense related to prior periods, and a reversal of an allowance for
customer discounts recorded in a prior period. The impact of these adjustments on fourth quarter income from operations, net
income, and net income per share was a decrease of $0.2 million, a decrease of $1.9 million, and a decrease of $0.04,
respectively. The Company and its Audit Committee believe that such amounts are not material to the current and previously
reported financial statements.