Plantronics 2008 Annual Report Download - page 3

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June 6, 2008
Dear Fellow Stockholders,
per share by 34%.
At the core of all our products, whether under the Plantronics, Altec Lansing, or Clarity brand names, you will find great sound, style, and
simplicity. Our expertise in these areas allows us to offer solutions that really make a difference to our customers. In communications
this means you can really hear and be understood better in a conversation using a Plantronics or Clarity product. In entertainment, great
sound, stylish design and ease of use are inherent in our Altec Lansing products as well. Our design teams are creating products that
reflect not just the lifestyle and appearance that people want, but an industrial design that is intuitive and easy to use.
Given the slowing U.S. economy, we expect a modest improvement in revenue growth and profitability in Fiscal 2009. We are more
optimistic about our longer term outlook and have set a goal to significantly increase our operating income by Fiscal 2011 as outlined
in our updated corporate presentation on our Investor Relations website.
We believe our long-term business prospects are improving in the Office and Contact Center market. We have an excellent product
portfolio under development and believe that the deployment of voice within Unified Communications over the coming years will
provide a catalyst to increased adoption of headsets in the workplace. In the Bluetooth headset market for mobile phones, we gained
share in the U.S. retail market over the past year.
In the 2009 fiscal year, we will focus on improving our long-term sustainable revenue and earnings growth rate by:
1. Strengthening our brand value
2. Growing our B2B business
3. Strengthening B2C profitability
4. Configuring the company to increase profitability
We are confident that the fundamental opportunities for increased profitability remain intact. We believe that we are on the right path
and we intend to reach our corporate target model of a 15-18% non-GAAP operating margin by 2011.
On behalf of everyone at Plantronics, I want to thank you for your continued support.
Ken Kannappan
Sincerely,
President & CEO
During Fiscal 2008, Plantronics enhanced its competitive market position and increased revenue by 7% while increasing earnings