Plantronics 2011 Annual Report Download - page 5

Plantronics Letter from the CEO
Dear Fellow Stockholders,
Fiscal 2011 was significant for Plantronics on many fronts; we produced better than expected financial results and
strengthened our competitive position, particularly in the Unified Communications (UC) market. As we celebrate
our 50th anniversary this year, we believe that our best long-term revenue and profit opportunities are in front of
us and that we are well positioned for them.
For the year, we achieved record financial performance, including record earnings and cash flows from operations.
We also continued to distribute capital to stockholders through our stock repurchase programs with the repurchase
of over 3.3 million shares, and recently announced a 7 million share repurchase program.
With the celebration of our 50th anniversary, we introduced a new portfolio of groundbreaking products and services
and launched our vibrant new brand with a new identity system. Our new vision and strategy, called Simply Smarter
Communications,
™ incorporates our intuitive and intelligent approach to communicating and collaborating. It
represents our ability to deliver innovative products that provide exceptional sound quality and enables our
customers to “simply communicate.”
Last year, I discussed our belief that the opportunity created by the deployment of UC technologies would be the most
significant in our history. Since then, we’ve seen meaningful progress in the market in terms of enterprise adoption of
the technology and UC platform launches and upgrades. This, combined with the strengthening of our partnerships
with UC vendors, validates our strategy and product portfolio and reconfirms our belief in the opportunity.
Among the notable products we introduced for UC is the Voyager® PRO UC headset. Utilizing our patent pending
Smart Sensor™ Technology, it lets users answer mobile phones and PC calls simply by placing the headset on their
ear. There’s no need to press buttons, open applications, or provide voice commands to answer a call. This intelligent
headset senses whether or not it is on a person’s ear and routes the call to either the headset or handset as
appropriate. The Voyager PRO UC also brings a new level of utility to PC and mobile phone communications by
integrating with PC softphone clients. For example, Voyager PRO UC will automatically inform applications,
such as Skype® or Microsoft® Lync,
™ that you’re on a mobile call, and will change your presence status to
busy so contacts will know not to interrupt you. This technology represents an enormous value-add to the
communications systems by providing both context and intelligence.
The new Calisto® 800 Series represents the first speakerphones in our UC product portfolio to combine multi-
device hands-free connectivity with intuitive visual call management and full-duplex wideband audio. These products
are optimized for use with different UC platforms and designed for private office and home office workers who
depend on multiple communication devices to collaborate effectively. The Calisto 800 Series also provides a unique
wireless microphone for enhanced freedom of movement.
Last year, I communicated that our long-term prospects for revenue and earnings growth were brighter than ever,
and we continue to believe this is true. Increased adoption of UC technologies, combined with high levels of
enterprise interest in our UC product portfolio, should drive strong revenue growth in our Office and Contact
Center products.
Finally, in fiscal 2012, we will continue to focus on our goal of winning in UC as a means to maximize long-term
stockholder value.
On behalf of everyone at Plantronics, I want to thank you for your continued support.
Sincerely,
Ken Kannappan
President and Chief Executive Officer