Plantronics 2011 Annual Report Download - page 89

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3 On May 4, 2010, the Company issued a press release announcing our preliminary results for the fourth quarter of fiscal
2010. In the press release, the Company reported Income from discontinued operations, net of tax, of $0.2 million and
Net income of $24.6 million. Subsequent to the issuance of the press release, management recorded an adjustment related
to its discontinued operations resulting in a Loss on discontinued operations, net of tax, of $0.2 million and Net income
of $24.2 million for the fourth quarter of fiscal 2010.
4 In the second quarter of fiscal 2010, the Company recorded non-cash impairment charges in the amount of $18.6 million
on the Altec Lansing trademark and trade name, $2.8 million related to intangible assets related to customer relationships,
technology and the inMotion trade name, and $3.8 million related to property, plant and equipment related to the AEG
segment. These charges are included in discontinued operations.
5 The first quarter of fiscal 2010 includes a correcting adjustment of approximately $1.3 million in Cost of revenues related
to an overstatement of duty expense in prior periods, beginning in the third quarter of fiscal 2005 through the fourth
quarter of fiscal 2009. The Company assessed the materiality of the error utilizing SEC Staff Accounting Bulletin No.
99, “Materiality” and SEC Staff Accounting Bulletin No. 108, “Effects of Prior Year Misstatements on Current Year
Financial Statements”, and determined that the impact of the correcting adjustment was not material to its projected full
year results for fiscal 2010 nor did it have a material impact on amounts reported in prior periods.
6 The Company sold Altec Lansing, its AEG segment, effective December 1, 2009 and has classified the AEG operating
results, including the loss on sale, as discontinued operations for all periods presented.
7 Net income (loss) includes the operating results from both continuing and discontinued operations.
8 Basic and diluted earnings per share is presented on net income (loss) including both continuing and discontinued
operations and are computed independently for each of the quarters presented; therefore, the sum of the quarterly basic
and diluted per share information may not equal annual basic and diluted earnings per share.
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