Plantronics 2011 Annual Report Download - page 39

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Net Revenues
(in thousands)
Net revenues:
Office and Contact
Center
Mobile
Gaming and Computer
Audio
Clarity
Total net revenues
Fiscal Year Ended
March 31,
2011
$ 490,472
137,530
36,736
18,864
$ 683,602
March 31,
2010
$ 404,397
149,756
39,260
20,424
$ 613,837
Increase
(Decrease)
$ 86,075
(12,226)
(2,524)
(1,560)
$ 69,765
21.3 %
(8.2)%
(6.4)%
(7.6)%
11.4 %
Fiscal Year Ended
March 31,
2010
$ 404,397
149,756
39,260
20,424
$ 613,837
March 31,
2009
$ 429,669
187,419
34,052
23,450
$ 674,590
Increase
(Decrease)
$(25,272)
(37,663)
5,208
(3,026)
$(60,753)
(5.9)%
(20.1)%
15.3 %
(12.9)%
(9.0)%
Our consolidated net revenues increased in fiscal 2011 as compared to fiscal 2010 driven by growth in OCC product revenues as
a result of improved global economic conditions and growth in demand for UC. While we experienced foreign exchange
fluctuations in our net revenues during the first half of the fiscal year, the overall foreign exchange impact for the entire fiscal year
was not material.
Our consolidated net revenues decreased in fiscal 2010 as compared to fiscal 2009 primarily in our Mobile and OCC product
revenues as a result of global economic weakness due to the global recession especially in the first half of fiscal 2010 in comparison
to the prior year. While we experienced foreign exchange fluctuations in our net revenues during the first half of fiscal 2010, the
overall foreign exchange impact for the entire fiscal year was not material.
Net revenues may vary due to the timing of the introduction of new products, discounts and other incentives and channel mix. In
addition, we typically experience seasonality in our quarterly revenues which occurs in the third quarter of our fiscal year. Our
OCC products represent our largest source of revenues while our Mobile products represent our largest unit volumes.
Primary fluctuations in the net revenues in fiscal 2011 compared to fiscal 2010 were as follows:
• OCC product net revenues increased $86.1 million as a result of higher volumes due to improved global economic
conditions and growth in demand for UC products.
• Mobile net revenues decreased $12.2 million mostly due to overall weakness in the product category which resulted in
a lower unit volume of sales. We believe we have maintained our share of the total global market, although gains achieved
internationally were partially offset by a reduction in U.S. market share.
Primary fluctuations in the net revenues in fiscal 2010 compared to fiscal 2009 were as follows:
• Mobile product net revenues decreased by $37.7 million due primarily to lower volumes as a result of the global recession
along with the benefit realized in fiscal 2009 from Bluetooth headset revenues attributable to hands-free driving legislation
enacted in the states of California and Washington in the U.S. in fiscal 2009.
• OCC product net revenues decreased by $25.3 million as a result of lower volumes due to weakness in economic conditions
as a result of the global recession.
• Gaming and Computer Audio net revenues increased by $5.2 million due to higher sales of UC products and the overall
strength of the product portfolio.
• Clarity net revenues decreased by $3.0 million due primarily to lower purchases under state government programs as a
result of the impact of the recession on state budgets and lower OEM sales in Europe.
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