Plantronics 2011 Annual Report Download - page 86

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The following table presents Net revenues by geography:
(in thousands)
Net revenues from unaffiliated customers:
United States
Europe, Middle East and Africa
Asia Pacific
Americas, excluding United States
Total International net revenues
Total net revenues
Fiscal Year Ended March 31,
2011
$ 400,292
169,521
62,697
51,092
283,310
$ 683,602
2010
$ 378,119
148,070
46,494
41,154
235,718
$ 613,837
2009
$ 424,290
162,697
41,846
45,757
250,300
$ 674,590
No customer accounted for 10% or more of total Net revenues for fiscal years 2011, 2010 and 2009, nor did any one customer
account for 10% or more of Accounts receivable, net at March 31, 2011 or March 31, 2010.
The following table presents long-lived assets by geographic area on a consolidated basis:
(in thousands)
United States
Mexico
Other countries
Total Long-lived assets
Fiscal Year Ended
March 31,
2011
$ 65,899
7,293
12,291
$ 85,483
2010
$ 66,327
7,230
9,597
$ 83,154
19. SUBSEQUENT EVENTS
Dividend Declaration
On May 3, 2011, the Company’s Board of Directors declared a cash dividend of $0.05 per share of the Company's common stock,
payable on June 10, 2011 to stockholders of record on May 20, 2011.
Accelerated Share Repurchase Program
On May 2, 2011, the Company's Board of Directors authorized the repurchase of up to 7,000,000 shares of the Company's
outstanding common stock. As part of this authorization, on May 9, 2011, the Company entered into two separate Master
Confirmation and Supplemental Confirmations (the "ASR Agreements") with Goldman, Sachs & Co. ("Goldman") to repurchase
an aggregate of $100 million of the Company's common stock under an accelerated share repurchase program (the "ASR Program").
On May 12, 2011, the Company made a total payment of $100 million to Goldman against the delivery of shares by Goldman
pursuant to the terms of the ASR Agreements, of which $50 million will be used for a collared ASR Agreement (the “Collared
ASR Agreement”) and $50 million of which will be used for an uncollared ASR Agreement (the “Uncollared ASR Agreement”).
A majority of the shares owed to the Company by Goldman were delivered on May 23, 2011. The number of shares to ultimately
be repurchased by the Company under the ASR Program will be based generally on the average daily volume-weighted average
price of the Company's common stock during the term of the ASR Agreements. Purchases under the Collared ASR Agreement
are subject to collar provisions that will establish minimum and maximum numbers of shares based on the average volume-
weighted average share price over an initial hedge period. Pursuant to the terms of the Collared ASR Agreement, the initial hedge
period for determining the minimum and maximum number of shares to be repurchased ended on May 23, 2011. The minimum
has been set at 1.2 million shares and the maximum has been set at 1.5 million shares. The purchases under the Uncollared ASR
Agreement are expected to be completed by January 9, 2012, although the completion date for either contract may be accelerated
at Goldman's option. The actual number of shares repurchased will be determined at the completion of the ASR Program.
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