Plantronics 2011 Annual Report Download - page 88

SUPPLEMENTARY QUARTERLY FINANCIAL DATA
(Unaudited)
Each of the Company's fiscal years ends on the Saturday closest to the last day of March. The Company's fiscal year 2011 consists
of 52 weeks. The Company's fiscal year 2010 consists of 53 weeks and the first, second and third quarters consist of 13 weeks
and the fourth quarter consists of 14 weeks. Our interim fiscal quarters for the first, second, third and fourth quarter of fiscal 2011
ended on July 3, 2010, October 2, 2010, January 1, 2011 and April 2, 2011, respectively, and our interim fiscal quarters for the
first, second, third and fourth quarter of fiscal 2010 ended on June 27, 2009, September 26, 2009, December 26, 2009 and April 3,
2010, respectively. For purposes of presentation, the Company has indicated its accounting fiscal year as ending on March 31
and our interim quarterly periods as ending on the last calendar day of the applicable month end.
Net revenues
Gross profit
Net income
Basic net income per common share8
Diluted net income per common share8
Cash dividends declared per common share
Quarter Ended
March31,
20111
(in thousands, except per share data)
$ 173,077
$ 90,541
$ 26,316
$ 0.55
$ 0.53
$ 0.05
December 31,
20102
$ 181,585
$ 95,808
$ 31,552
$ 0.66
$ 0.64
$ 0.05
September 30,
2010
$ 158,255
$ 85,959
$ 25,429
$ 0.54
$ 0.52
$ 0.05
June 30,
2010
$ 170,685
$ 89,448
$ 25,946
$ 0.54
$ 0.52
$ 0.05
Net revenues
Gross profit
Income from continuing operations, net of tax
Income (loss) from discontinued operations, net of
tax6
Net income (loss)7
Basic net income (loss) per common share8
Diluted net income (loss) per common share8
Cash dividends declared per common share
Quarter Ended
March31,
20102,3
(in thousands, except per share data)
$ 162,282
$ 87,766
$ 24,415
$(191)
$ 24,224
$ 0.50
$ 0.49
$ 0.05
December 31,
20092
$ 165,935
$ 80,369
$ 23,203
$ 47
$ 23,250
$ 0.48
$ 0.47
$ 0.05
September 30,
20092,4
$ 144,458
$ 67,931
$ 15,897
$(16,643)
$(746)
$(0.02)
$(0.02)
$ 0.05
June 30,
20092,5
$ 141,162
$ 65,004
$ 12,938
$(2,288)
$ 10,650
$ 0.22
$ 0.22
$ 0.05
1 During the fourth quarter of fiscal 2011, the Company recognized a gain of $5.1 million upon receiving payment from
a competitor to dismiss litigation involving the alleged theft of our trade secrets. In addition, the Company recorded $1.4
million in accelerated amortization expense to reflect the revised estimated useful life of an intangible asset the Company
deemed to be abandoned. Also, on May 3, 2011, the Company issued a press release announcing its preliminary results
for the fourth quarter of fiscal 2011. In the press release, the Company reported Net income of $27.2 million. Subsequent
to the issuance of the press release, management recorded an adjustment in Interest and other income (expense), net
related to penalties and interest as a result of the settlement of an indirect tax matter in Brazil, resulting in Net income
of $26.3 million for the fourth quarter of fiscal 2011.
2 In March 2009, the Company announced a restructuring plan to close its ACG Suzhou, China manufacturing operations
in fiscal 2010 in order to outsource manufacturing of its Bluetooth products to an existing supplier in China. The
manufacturing facility was closed in July 2009. As a result of these activities, restructuring and other related charges of
$0.6 million, $0.9 million, $0.3 million and $0.1 million were recorded as part of this action in the first, second, third
and fourth quarters of fiscal 2010, respectively. The Company also recorded non-cash charges of $3.5 million and $1.7
million, respectively, in the first and second quarters of fiscal 2010 related to accelerated depreciation related to the
building and equipment associated with manufacturing operations and is included in Cost of revenues. In the third quarter
of fiscal 2011, the Company recorded an immaterial net gain in Restructuring and other related charges upon completion
of the sale of its Suzhou facility which was classified as Assets held for sale.
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