Plantronics 2010 Annual Report Download - page 71

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63
The results from discontinued operations, including the loss on sale of Altec Lansing, for the fiscal years 2008, 2009 and 2010 are as
follows:
(in thousands)
2008 2009 2010
8,351 91,029$ 64,916$
ost of revenues (103,318) (86,932) (53,127)
(3,584) (1,122) (19)
ss on sale of AEG - - (611)
Year Ended March 31,
Net revenues 10$
C
Operating expenses (37,232) (28,144) (16,433)
Impairment of goodwill and long-lived assets - (117,464) (25,194)
Restructuring and other related charges
Lo
Loss from operations of discontinued AEG segment (including loss on sale of AEG) (35,783) (142,633) (30,468)
Tax benefit from discontinued operations (12,166) (32,392) (11,393)
Loss on discontinued operations, net of tax (23,617)$ (110,241)$ (19,075)$
. INVESTME5NTS
he following table presents the Company’s investments at March 31, 2009 and 2010: T
(in thousands)
Adjusted
Cost Unrealized Accrued Fair
Adjusted
Cost Unrealized Accrued Fair
Basis Gain(Loss) Interest Value Basis Gain(Loss) Interest Value
Short-term investments:
U.S. Treasury Bills $ 59,977 $ - $ 10 $ 59,987 $ - $ - $ - $ -
Auction rate securities - - - - 19,231 - - 19,231
Total short-term investments 59,977 - 10 59,987 19,231 - - 19,231
Long-term investments: - - - - - - - -
Auction rate securities 23,718 - - 23,718 - - - -
Total long-term investments 23,718 - - 23,718 - - - -
Total short-term and long-term investments $ 83,695 $ - $ 10 $ 83,705 $ 19,231 $ - $ - $ 19,231
Balances at March 31, 2010Balances at March 31, 2009
At March 31, 2009, all of the Company’s short-term investments consisted of U.S. Treasury Bills and were classified as available-for-
sale. At March 31, 2010, the Company’s short-term investments consisted of auction rate securities (“ARS”), classified as trading
securities.
At March 31, 2009, all of the Company’s long-term investments consisted of ARS which were transferred from available-for-sale to
trading securities in the third quarter of fiscal 2009. At the time of transfer, the Company recorded unrealized losses of $4.0 million
related to its ARS within Interest and other income (expense), net in the Consolidated statement of operations which was offset in part
by an unrealized gain based on the fair value of the associated put option of $3.9 million also recorded to Interest and other income
(expense), net.
The Company did not incur any material net realized or unrealized gains or losses in the years ended March 31, 2008, 2009 or 2010.