Plantronics 2013 Annual Report Download

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Annual Report 2013
Simply Smarter Communications®

Table of contents

  • Page 1
    Annual Report 2013 Simply Smarter Communications®

  • Page 2
    (This page intentionally left blank.)

  • Page 3
    ... Cash/Cash Equivalents, Short- and Long-Term Investments Dollars in millions 2.41 2.21 2.49 369.2 469.3 425.6 389.9 1.55 241.9 0.93 Fiscal Year 2009 2010 2011 2012 2013 Fiscal Year 2009 2010 2011 2012 2013 Other Financial Data In millions Years Ended Cash provided from operating...

  • Page 4
    ... Timeline of Innovation 1972 Plamex (Planfronics Mexico) opens in Tijuana 1961 Pacific Plantronics is incorporafed 1983 The new StarSet® Supra® soon becomes fhe call cenfer indusfry sfandard 1995 FreeHand, an ulfralighfweighf in-fhe-ear headsef is infroduced 1963 FAA selecfs Planfronics...

  • Page 5
    ...2012 Planfronics launches a developer community fo focus on delivering infelligenf confexf-aware dafa info applicafions 2003 The CS50â„¢ brings wireless freedom fo fhe office 2013 Plamex named Besf Place fo Work in Mexico for fhird consecufive year 2000 Digitally enhanced USB headseafs for fhe PC...

  • Page 6
    ... and Customer-Care markets. Our growth opportunities look attractive for the majority of our product lines, including Bluetooth® headsets, gaming and computer headsets, and devices for the hearing impaired, and we believe we will benefit when this growth occurs. Our goals for fiscal year 2014...

  • Page 7
    Plantronics Annual Report 2013 Our Vision Transforming work and life with Simply Smarter Communications.

  • Page 8
    ...principal executive offices) 77-0207692 (I.R.S. Employer Identification Number) 95060 (Zip Code) (831) 426-5858 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class COMMON STOCK, $.01 PAR VALUE Name of each exchange on...

  • Page 9
    ... the common stock held by non-affiliates of the Registrant, based upon the closing price of $35.33 for shares of the Registrant's common stock on September 29, 2012, the last trading day of the registrant's most recently completed second fiscal quarter as reported by the New York Stock Exchange, was...

  • Page 10
    ... and Supplementary Data Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Controls and Procedures Other Information Directors, Executive Officers and Corporate Governance Executive Compensation Security Ownership of Certain Beneficial Owners and Management and...

  • Page 11
    ...State of Delaware and is listed on the New York Stock Exchange ("NYSE") under the ticker symbol "PLT". Our principal executive offices are located at 345 Encinal Street, Santa Cruz, California, 95060. Our telephone number is (831) 426-5858. Our Company website is www.plantronics.com. In the Investor...

  • Page 12
    ... of headsets for business and consumer applications, and other specialty products for the hearing impaired. We develop enhanced communication products for offices and contact centers, mobile and cordless phones, and computers and gaming consoles. We offer our products under two brands - Plantronics...

  • Page 13
    ... move freely without cords or cables around their office or home, or easily from public to private space when privacy is required Multi-tasking benefits that allow people to use computers and mobile devices, including smartphones or other devices, while talking hands free UC integration of telephony...

  • Page 14
    ... streaming audio and video, increasing use of softphones, gaming, and video conferencing. As devices providing these users' needs converge, our headsets need to be compatible with PCs, mobile phones, MP3 players, and various combinations of these. We believe our product development roadmaps address...

  • Page 15
    ... their products. One of our primary competitors is GN Netcom, a subsidiary of GN Store Nord A/S., a Danish telecommunications conglomerate that competes with us in the office, contact center, and mobile markets and, on a limited scale, in the gaming and computer audio market. In addition, Motorola...

  • Page 16
    ..., Europe, China, Australia, Japan, and New Zealand, where use of our products is widespread. Our distribution channels in other regions are less mature, and while we primarily serve the contact center markets in those regions, we are expanding into the office, mobile, gaming and computer audio...

  • Page 17
    ... locations Tijuana, Mexico, which provides logistics services for products destined for customers in the U.S., Canada, Asia Pacific, and Latin America regions Prague, Czech Republic, which provides logistics services for products shipped to customers in our Europe and Africa regions Suzhou, China...

  • Page 18
    ... resulting in claims or lawsuits. Even if we prevail, claims and lawsuits are costly and time consuming to pursue or defend and may divert management's time from our business" within Item 1A Risk Factors of this Form 10-K. We own trademark registrations in the U.S. and a number of other countries...

  • Page 19
    ... facility in Tijuana, Mexico. To our knowledge, no employees are currently covered by collective bargaining agreements. EXECUTIVE OFFICERS OF THE REGISTRANT Set forth in the table below is certain information regarding the executive team of Plantronics: NAME Ken Kannappan * Pamela Strayer...

  • Page 20
    ... and General Manager of the Computer and Mobile Systems Group. In 1997, he left Plantronics to become President and CEO of Euphonix, Inc., a public company in the high-end audio equipment space. In 2000, he re-joined Plantronics and in 2004, became Vice President of Strategy and Business Development...

  • Page 21
    ... in Europe, whether short-term or prolonged, may result in reductions in sales of our products, longer sales cycles, slower adoption of new technologies, increased price competition, and customer and supplier bankruptcies. Replacement cycles of our Office and Contact Center ("OCC") headset products...

  • Page 22
    ... reduce employee turnover and, thereby, new headset needs. Our gross margins can vary for a number of reasons, including customer demand, competition, product life cycle, new product introductions, unit volumes, commodity and supply chain costs, geographic sales mix, foreign currency exchange rates...

  • Page 23
    ...in turn, will reduce the sales prices for our headsets. Our plans are dependent upon the market success of major platform providers and strategic partners such as Microsoft Corporation, Cisco Systems, Inc., Avaya, Inc., Alcatel-Lucent, and IBM, and we have limited ability to influence such providers...

  • Page 24
    ... shortages. Lead times are particularly long for silicon-based components incorporating radio frequency and digital signal processing technologies and such components make up an increasingly larger portion of our product costs. In particular, many consumer product orders have shorter lead times than...

  • Page 25
    ... could negatively affect our business and financial results. In addition, some of our products utilize long-lead time parts, which are only available from a limited set of vendors. The combined effects of variability of demand from our customers with long-lead time of single sourced materials has in...

  • Page 26
    ... greater financial, marketing, and other resources. Competitors in audio devices vary by product line. The most competitive product line is headsets for cell phones where we compete with GN's Jabra brand, Motorola, Samsung, Aliph's Jawbone brand, BlueAnt Wireless, Nokia, Bose, and Sony Ericsson...

  • Page 27
    ... not offer a lifestyle brand. Reductions in the number of suppliers participating in the Bluetooth market, thereby reducing our sourcing options and potentially increasing our costs at a time when our ability to offset higher costs with corresponding product price increases is limited. Difficulties...

  • Page 28
    ... and partners, including mobile phone and software application developers. As a result, we must continually introduce new products and technologies and enhance or adapt existing products to work with a wider variety of new and existing devices and applications in order to maintain customer...

  • Page 29
    ... margins Price our products competitively Hire and retain qualified personnel in the highly competitive field of software development for future generations of our products Provide timely, effective and accurate technical product support to our customers Leverage new and existing channel partners...

  • Page 30
    ...bankruptcies or financial difficulties of our customers may impact our business. We sell substantially all of our products to end users through distributors, retailers, OEMs, and telephony service providers. Effectively managing these relationships and avoiding channel conflicts can be difficult and...

  • Page 31
    ...-user demand, particularly if we increase prices to offset higher costs. If any of the foregoing were to happen, our ability to sell one or more of our products may be limited or prohibited causing a material negative effect on our financial results. We are subject to various federal, state, local...

  • Page 32
    ... to work with local phone systems. Certain of our wireless office and mobile products must work within existing frequency ranges permitted in various jurisdictions. Moreover, competition for limited radio frequency bandwidth as a result of an increasing number of wireless products by us, our...

  • Page 33
    ...believe that our products enhance driver safety by permitting a motor vehicle operator to generally keep both hands free to operate the vehicle, there is no certainty that this is the case, and we may be subject to claims arising from allegations that use of a mobile phone and headset contributed to...

  • Page 34
    ... for communications with our suppliers, distributors, and customers. Consequently, our business may be impacted by system shutdowns or service disruptions during routine operations, such as system upgrades or user errors, as well as network or hardware failures, malicious software, hackers, natural...

  • Page 35
    ...stock price. Pursuant to Section 404 of the Sarbanes-Oxley Act of 2002, our management and independent registered public accounting firm are required to report annually on the effectiveness of our internal control over financial reporting. We have an ongoing program to perform the system and process...

  • Page 36
    ...ITEM 2. PROPERTIES Our principal executive offices are located in Santa Cruz, California. Our facilities are located throughout the Americas, Europe, and Asia. The table below lists the major facilities owned or leased as of March 31, 2013: Location Chattanooga, Tennessee Hoofddorp, Netherlands San...

  • Page 37
    ... the lawsuit entitled In Re Bluetooth Headset Products Liability Litigation, brought against Plantronics, Inc., Motorola, Inc., and GN Netcom, Inc., alleging that the three companies failed to adequately warn consumers of the potential for long-term noise induced hearing loss if they used Bluetooth...

  • Page 38
    ... OF EQUITY SECURITIES Price Range of Common Stock Our common stock is publicly traded on the New York Stock Exchange ("NYSE") under the symbol "PLT". The following table sets forth the low and high sales prices as reported on the NYSE for each period indicated: Low Fiscal Year 2013 First Quarter...

  • Page 39
    ... of Contents Share Repurchase Programs The following table presents a month-to-month summary of the stock purchase activity in the fourth quarter of fiscal year 2013: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 2,200 5,000 688 Maximum Number of Shares that May...

  • Page 40
    ... certain positions in the US., Mexico, China, and Europe, and transitioned some of these positions to lower cost locations. As part of this plan, we also plan to vacate a portion of a leased facility at our corporate headquarters in the first quarter of fiscal year 2014. The pre-tax charges...

  • Page 41
    ...Office and Contact Center ("OCC") over the next five years to come from headsets designed for UC. In fiscal year 2013, we built on the traction gained during fiscal year 2012 in our Bluetooth product portfolio with the introduction of several new models, including Legend, our next-generation Voyager...

  • Page 42
    ... of new product introductions and discontinuation of existing products, discounts and other incentives, and channel mix. Net revenues derived from sales of consumer goods into the retail channel typically account for a seasonal increase in net revenues in the third quarter of our fiscal year. 32

  • Page 43
    ... stronger portfolio of Mobile products and increased demand attributable to hands-free laws enacted in the People's Republic of China (PRC) during the fiscal year. OCC product revenues also increased, primarily as a result of growth in demand for UC. Unfavorable foreign exchange fluctuations in the...

  • Page 44
    ... of product mix being weighted more heavily to Mobile products, resulting from demand attributable to hands-free laws enacted in the PRC during the fiscal year and to...commitments. Gross profit may also vary based on distribution channel, return rates, and other factors. Research, Development, and ...

  • Page 45
    ... plan, we eliminated certain positions in the U.S., Mexico, China, and Europe, and transitioned some of these positions to lower cost locations. We also plan to vacate a portion of a leased facility at our corporate headquarters in the first quarter of fiscal year 2014. We expect to incur total pre...

  • Page 46
    ... on our revolving line of credit. During fiscal year 2012, interest and other income (expense), net increased from fiscal year 2011 due primarily to fiscal year 2011 including an expense related to interest and penalties recorded upon settlement of an indirect tax matter in Brazil. In addition, we...

  • Page 47
    ... activities will fluctuate in future periods as a result of a number of factors, including fluctuations in our revenues, the timing of product shipments during the quarter, accounts receivable collections, inventory and supply chain management, and the timing and amount of tax and other payments...

  • Page 48
    ... increase in net cash used for purchases of short- and long-term investments An increase in capital expenditures related primarily to the purchase of a new manufacturing facility in Tijuana, Mexico and costs incurred to commence implementation of a new enterprise resource planning ("ERP") system The...

  • Page 49
    ... market or through privately negotiated transactions, including ASR agreements. During the fiscal years ended March 31, 2013, 2012 and 2011, we repurchased 751,706, 8,027,287 and 3,315,000 shares, respectively, of our common stock as part of these publicly announced repurchase programs for a total...

  • Page 50
    ... retain title to the consigned inventory. Consigned inventory not consumed in the production process is returnable to our suppliers in accordance with the terms of our agreements with them. If our suppliers were to discontinue financing consigned inventory, it would require us to make cash outlays...

  • Page 51
    ...sources of net revenues. Sales through our distribution and retail channels are made primarily under agreements allowing for rights of return and include various sales incentive programs, such as rebates, advertising, price protection, and other sales incentives. We have an established sales history...

  • Page 52
    ... in the accounting methodology we use to measure sales return reserves or incentive allowances during the past three fiscal years. Substantially all credits associated with these activities are processed within the following fiscal year, and therefore, do not require subjective long-term estimates...

  • Page 53
    ...vary materially as a result of a number of factors, including those set forth in Item 1A, Risk Factors. INTEREST RATE AND MARKET RISK As of March 31, 2013 and 2012, we reported the following balances in cash and cash equivalents, short-term investments, and long-term investments: March 31, 2013 2012...

  • Page 54
    ...successful in the future and that exchange rate fluctuations will not materially adversely affect our business. We do not hold or issues derivative financial instruments for speculative trading purposes. We experienced immaterial net foreign currency losses in the year ended March 31, 2013. Although...

  • Page 55
    ...amounts of approximately MX$325.4 million. The table below presents the impact on the valuation of our cross-currency swap contracts of a hypothetical 10% appreciation and a 10% depreciation of the USD as of March 31, 2013 (in millions): Foreign Exchange Foreign Exchange (Loss) From 10% Gain From 10...

  • Page 56
    Table of Contents ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of Plantronics, Inc.: In our opinion, the consolidated financial statements listed in the index appearing under Item 15(a)(1) ...

  • Page 57
    ... Current liabilities: Accounts payable Accrued liabilities Total current liabilities Deferred tax liabilities Long-term income taxes payable Revolving line of credit Other long-term liabilities Total liabilities Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $0.01 par...

  • Page 58
    Table of Contents PLANTRONICS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) Fiscal Year... general and... Earnings per common share: Basic Diluted Shares used in computing earnings per common share: Basic Diluted...part of these consolidated financial statements. 48

  • Page 59
    Table of Contents PLANTRONICS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) Fiscal Year Ended March 31, 2013 2012 2011 Net income ... (423) (6,419) 29 (22) 7 (4,799) 104,444 $ $ $ $ The accompanying notes are an integral part of these consolidated financial statements. 49

  • Page 60
    ... plans Employees' tax withheld and paid for restricted stock and restricted stock units Proceeds from revolving line of credit Repayments of revolving line of credit Payment of cash dividends Excess tax benefit from stock-based compensation Cash used for financing activities Effect of exchange rate...

  • Page 61
    Table of Contents PLANTRONICS...stock Cash dividends Stock-based compensation Tax benefit from stock-based awards Repurchase of common stock Employees' tax withheld and paid for restricted stock and restricted stock units Retirement of treasury stock...part of these consolidated financial statements. 51

  • Page 62
    ... products for people with special communication needs. The Company operates its business as one segment. Founded in 1961, Plantronics is incorporated in the state of Delaware and trades on the New York Stock Exchange under the ticker symbol "PLT". 2. SIGNIFICANT ACCOUNTING POLICIES Management's Use...

  • Page 63
    ...specific warranty terms and conditions range from one to two years starting from the delivery date to the end user and vary depending upon the product sold and the country in which the Company does business. Factors that affect the warranty obligations include product failure rates, estimated return...

  • Page 64
    ... on proprietary valuation models that are prepared by the independent pricing services and use algorithms based on inputs such as observable market data, quoted market prices for similar securities, issuer spreads, and internal assumptions of the broker. The Company corroborates the reasonableness...

  • Page 65
    .... Sales through retail and distribution channels are made primarily under agreements or commitments allowing for rights of return and include various sales incentive programs, such as rebates, advertising, price protection, and other sales incentives. The Company has an established sales history for...

  • Page 66
    ... sheets. The functional currency of the Company's European finance, sales and logistics headquarters in the Netherlands, sales office and warehouse in Japan, manufacturing facilities in Tijuana, Mexico, and logistic and research and development facilities in China, is the U.S. Dollar. For these...

  • Page 67
    ... from the Company's stock-based compensation programs. Concentration of Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term and long-term investments, and trade accounts receivable. Plantronics' investment...

  • Page 68
    ... of available-for-sale securities included in cash equivalents approximates fair value because of the short maturity of those instruments. The following table summarizes the amortized cost and fair value of the Company's cash equivalents, short-term investments and long-term investments, classified...

  • Page 69
    ...: Cash U.S. Treasury Bills Commercial Paper Short-term investments: U.S. Treasury Bills and Government Agency Securities Commercial Paper Corporate Bonds Long-term investments: U.S. Treasury Bills and Government Agency Securities Corporate Bonds CDs Other current assets: Derivative assets Total...

  • Page 70
    ...128,209 $ 111,771 (in thousands) Accounts receivable Provisions for returns Provisions for promotions and rebates Provisions for doubtful accounts and sales allowances Accounts receivable, net Inventory, net: $ $ (in thousands) Raw materials Work in process Finished goods Inventory, net Property...

  • Page 71
    ...16,223) (14,731) $ 13,410 $ 13,346 (in thousands) Warranty obligation at beginning of year Warranty provision relating to products shipped during the year Deductions for warranty claims processed Warranty obligation at end of year 7. GOODWILL AND PURCHASED INTANGIBLE ASSETS Goodwill Goodwill as of...

  • Page 72
    ... certain positions in the U.S., Mexico, China, and Europe, and transitioned some of these positions to lower cost locations. The Company also plans to vacate a portion of a leased facility at its corporate headquarters in the first quarter of fiscal year 2014. The Company expects to incur total pre...

  • Page 73
    ... Interference with Business Relations. GN claims that Plantronics dominates the market for headsets sold into contact centers in the United States and that a critical channel for sales of headsets to contact centers is through a limited network of specialized independent distributors ("SIDs"). GN...

  • Page 74
    ... Plan for issuance to employees, directors, and consultants of Plantronics. Under the 2003 Stock Plan, the exercise price of stock options may not be less than 100% of the fair market value of the Company's common stock on the date of grant. The term of an option may not exceed 7 years from the date...

  • Page 75
    ... lesser of the closing price of the common stock on (i) the first day of the offering period or (ii) the last day of the offering period. Each offering period is six months long. There were 158,596, 182,209, and 170,376 shares issued under the ESPP in fiscal years 2013, 2012, and 2011, respectively...

  • Page 76
    ... stock inducement plan to former employees of Tonalite in connection with the Company's acquisition of all the equity interests in Tonalite during the year. The RSUs vest annually over four years, subject to the continued employment of the RSU holder on each vesting date. As future services are...

  • Page 77
    ... ASR Agreements, the Company paid Goldman $150.0 million in exchange for delivery of 4,327,770 shares during the year ended March 31, 2012 at an average price per share of $34.66, which was based on the volumeweighted average price of the Company's common stock during the terms of the ASR Agreements...

  • Page 78
    ... currency-denominated cash, accounts receivable, and accounts payable balances. The following table summarizes the notional value of the Company's outstanding foreign exchange currency contracts and approximate U.S. Dollar equivalent ("USD Equivalent") at March 31, 2013: Local Currency (in thousands...

  • Page 79
    ... for under the hedge accounting provisions of the Derivatives and Hedging Topic of the FASB ASC. The Company hedges a portion of the forecasted MX$ denominated expenditures with a cross-currency swap. The effective portion of the hedge gain or loss is initially reported as a component of AOCI...

  • Page 80
    ... Contracts on Accumulated Other Comprehensive Income The following table represents only the balance of designated derivative contracts ...as follows: Fiscal Year Ended March 31, 2013 2012 2011 $ 4,007 $ (2,800) $ 2,917 (in thousands) Gain (loss) on foreign exchange contracts designated as cash...

  • Page 81
    Table of Contents 16. INCOME TAXES Income tax expense for fiscal years 2013, 2012, and 2011 consisted of the following: (in thousands) Current: Federal State Foreign Total current provision for income taxes Deferred: Federal State Foreign Total deferred benefit for income taxes Income tax expense ...

  • Page 82
    ... to utilize the assets using a more likely than not analysis. Deferred tax assets are only recorded to the extent that they are realizable based upon past and future income. The Company has a long established earnings history with taxable income in its carryback years and forecasted future earnings...

  • Page 83
    ... and 2011. The following table sets forth the computation of basic and diluted earnings per share: (in thousands, except earnings per share data) Numerator: Net income Denominator: Weighted average common shares-basic Dilutive effect of employee equity incentive plans Weighted average shares-diluted...

  • Page 84
    ...with mobile and cordless phones, and with computers and gaming consoles. Major product categories include "Office and Contact Center", which includes corded and cordless communication headsets, audio processors, and telephone systems; "Mobile", which includes Bluetooth and corded products for mobile...

  • Page 85
    ...Company has indicated its accounting fiscal year...December 31, September 30, 2011 2011 (in thousands, except per share data) $ 183,236 $ 176,948 $ 96,212 $ 98,966...Mexico, China, and Europe, and transitioned some of these positions to lower cost locations. The pre-tax charges incurred during fiscal year...

  • Page 86
    ... of March 31, 2013. The Company's independent registered public accounting firm, PricewaterhouseCoopers LLP, has issued a report on our internal control over financial reporting, which appears on page 46 of this Form 10-K. Changes in internal control over financial reporting There has been no change...

  • Page 87
    ... available on Plantronics' website under the Corporate Governance portal in the Company section of our website at www.plantronics.com. Stockholders or any interested party may request a free copy of the Corporate Governance Guidelines by contacting us at the address and phone numbers set forth above...

  • Page 88
    Table of Contents ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES The information required by this item is included under the caption "Proposal Three - Ratification of Appointment of Independent Registered Public Accounting Firm" in our 2013 Proxy Statement and is incorporated in this Item 14 by ...

  • Page 89
    ... AND FINANCIAL STATEMENT SCHEDULES (a) The following documents are filed as part of this Form 10-K: (1) Financial Statements. The following consolidated financial statements and supplementary information and Report of Independent Registered Public Accounting Firm are included in Part II of this...

  • Page 90
    ... Schedules. PLANTRONICS, INC. SCHEDULE II: VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (in thousands) Balance at Beginning of Year Provision for doubtful accounts and sales allowances: Year ended March 31, 2013 Year ended March 31, 2012 Year ended March 31, 2011 Provision for returns: Year...

  • Page 91
    Table of Contents 3. Exhibits. See Item 15(b) below. (b) Exhibits We have filed, or incorporated by reference into this Report, the exhibits listed on the accompanying Index to Exhibits immediately following the signature page of this Form 10-K. (c) Financial Statement Schedules See Items 8 and 15...

  • Page 92
    ... INC. By: Name: Title: /s/ Ken Kannappan Ken Kannappan Chief Executive Officer POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS: That the undersigned officers and directors of Plantronics, Inc., a Delaware corporation, do hereby constitute and appoint Ken Kannappan and Pamela Strayer, or either...

  • Page 93
    ... 2009, as Amended September 10, 2010 Plantronics, Inc. Executive Incentive Plan Lease Agreement dated May 2004 between Finsa Portafolios, S.A. DE C.V.and Plamex, S.A. de C.V., a subsidiary of the Registrant, for premises located in Tijuana, Mexico (translation from Spanish original) Lease Agreement...

  • Page 94
    ... and Barbara Scherer Subsidiaries of the Registrant Consent of Independent Registered Public Accounting Firm Power of Attorney - Power of Attorney (incorporated by reference to the signature page of this Annual Report on Form 10-K.) Certification of the President and CEO Pursuant to Rule 13a-14...

  • Page 95
    Table of Contents Incorporation by Reference Exhibit Number 32.1 Exhibit Description Certification of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 XBRL Instance Document XBRL Taxonomy ...

  • Page 96
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  • Page 97
    ... Europe Ltd. Plamex, S.A. de C.V. Plantronics B.V. Plantronics Singapore PTE LTD Plantronics Iberia, S.L. Plantronics Nordic AB Plantronics Belgium BVBA Plantronics Limited Plantronics Chile Ltda. India Australia Brazil Canada Cayman Islands China China France Germany Italy Russia Japan Malta Mexico...

  • Page 98
    ...-70333 and 333-67781) of Plantronics, Inc. of our report dated May 24, 2013 relating to the consolidated financial statements, financial statement schedules and the effectiveness of internal control over financial reporting, which appears in this Form 10-K. /s/ PricewaterhouseCoopers LLP San Jose...

  • Page 99
    ... information; and Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. b. Date: May 24, 2013 /s/ Ken Kannappan Ken Kannappan President, Chief Executive Officer and Director 89

  • Page 100
    ... adversely affect the registrant's ability to record, process, summarize and report financial information; and Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. b. Date: May 24...

  • Page 101
    ...Exchange Act of 1934 and that information contained in the Annual Report on Form 10-K fairly presents in all material respects the financial condition and results of operations of Plantronics, Inc. By: Name: Title: Date: /s/ Ken Kannappan Ken Kannappan President, Chief Executive Officer and Director...

  • Page 102
    ...29, 2008 in Plantronics common stock and in each index (based on prices from the close of trading on March 28, 2008), and that dividends, if any, were reinvested. The measurement date used is the last day of the Company's fiscal year for each period shown. Past performance is no indication of future...

  • Page 103
    ... Officer of 3Com Corporation Senior Vice President and Chief Financial Officer of Intuitive Surgical, Inc. Plantronics Executive Team Ken Kannappan Pamela Strayer Joe Burton Alejandro Bustamante Donald Houston Susan Lovegren Barry Margerum Marilyn Mersereau Renee Niemi Carsten Trads Philip...

  • Page 104
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  • Page 105
    ... through a Plantronics headset worn by Neil Armstrong. Our innovative products provide exceptional sound quality and an intuitive communications experience so you can simply communicate. Plantronics headsets are widely used with mobile phones, in contact centers, in the office, in the home, for...

  • Page 106
    ©2013 Plantronics, Inc. All rights reserved.