Plantronics 2000 Annual Report Download - page 33

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N OTES TO consolidated financial statements
note 9. SEGMENTS OF AN ENTERPRISE AND RELATED INFORMATI ON:
OPERATI NG SEGMENT
We organize the reporting segments based on geographic areas. The nature of our products (telecommuni-
cations equipment), development, manufacturing, marketing and servicing are similar in each geographic
area.We evaluate segment performance based on profit or loss from operations before interest expense,
foreign exchange gains and losses and income taxes. No one customer accounted for 10% or more of
total revenue from consolidated sales for fiscal year 1998, 1999 or 2000.
GEOGRAPHIC SEGM ENTS
In geographical reporting, revenues are attributed to the geographical location of the sales and service
organizations. Costs directly and indirectly incurred in generating revenues are similarly assigned.
FISCAL YEAR ENDED M ARCH 3 1 ,
(IN TH OUSANDS) 1998 1999 2000
NET REVENUES FROM UNAFFILIATED CUSTOMERS:
United States $164,074 $198,910 $209,557
International 72,038 87,351 105,455
$236,112 $286,261 $315,012
Intersegment revenues $ 80,421 $ 92,141 $ 98,749
OPERATI NG PROFIT:
United States $ 44,831 $ 62,942 $ 61,079
International 17,542 20,572 32,226
$ 62,373 $ 83,514 $ 93,305
LONG LIVED ASSETS:
United States $ 18,301 $ 17,791 $ 15,371
International 2,954 2,532 8,206
$ 21,255 $ 20,323 $ 23,577
The geographical reporting classification reflects the international restructuring completed in fiscal 1997.
The establishment of Plantronics B.V. changed the ownership of inventory and the methodology of inter-
segment revenues. Intersegment revenues are from Plantronics B.V. to the U.S., and are at arms-length
prices sufficient to recover a reasonable profit.
note 10. STOCK OPTION PLANS AND STOCK PURCHASE PLANS:
STOCK OPTI ON PLAN
In September 1993, the Board of Directors approved the PI Parent Corporation 1993 Stock Plan (the
“1993 Stock Plan”). Under the 1993 Stock Plan, 5,459,242 shares of Common Stock (which number is
subject to adjustment in the event of stock splits, reverse stock splits, recapitalization or certain corporate
reorganizations) are reserved cumulatively since inception for issuance to employees and consultants of
Plantronics, as approved by the Compensation Committee of the Board of Directors and the Stock Plan
Committee (comprised of the CEO and a representative of Finance, Human Resources, and Legal).The
reserved shares include 1,300,000 shares, which were authorized by the Board of Directors and approved
PLANTRONICS ANN UAL REPORT 2 0 0 0 page 31