Plantronics 2009 Annual Report Download - page 105

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97
SUPPLEMENTARY QUARTERLY FINANCIAL DATA
(Unaudited)
June 30, September 30, December 31, March 31,
2007 2007 2007
1
2008
1
,
2
Net revenues $ 206,495 $ 208,224 $ 232,824 $ 208,743
Gross profit $ 83,546 $ 84,456 $ 93,757 $ 87,346
Net income $ 14,975 $ 16,522 $ 19,108 $ 17,790
Basic net income per common share
7
$ 0.31 $ 0.34 $ 0.39 $ 0.37
Diluted net income per common share
7
$ 0.31 $ 0.34 $ 0.39 $ 0.36
Cash dividends declared per common share $ 0.05 $ 0.05 $ 0.05 $ 0.05
June 30, September 30, December 31, March 31,
2008
1,3
2008
1
2008
4,5
2009
5,6
Net revenues $ 219,164 $ 216,856 $ 182,836 $ 146,763
Gross profit $ 90,879 $ 93,773 $ 60,865 $ 50,511
Net income (loss) $ 20,494 $ 17,648 $ (92,009) $ (11,032)
Basic net income (loss) per common share
7
$ 0.42 $ 0.36 $ (1.90) $ (0.23)
Diluted net income (loss) per common share
7
$ 0.42 $ 0.36 $ (1.90) $ (0.23)
Cash dividends declared per common share $ 0.05 $ 0.05 $ 0.05 $ 0.05
Quarter Ended
(in thousands, except income (loss) per share)
Quarter Ended
(in thousands, except income per share)
Each of the Company’s fiscal years ends on the Saturday closest to the last day of March. The Company’s current and prior fiscal
years consist of 52 weeks and each fiscal quarter consists of 13 weeks. Our interim fiscal quarters for the first, second, third and
fourth quarter of fiscal 2008 ended on June 30, 2007, September 29, 2007, December 29, 2007 and March 29, 2008, respectively, and
our interim fiscal quarters for the first, second, third and fourth quarter of fiscal 2009 ended on June 28, 2008, September 27, 2008,
December 27, 2008 and March 28, 2009, respectively. For purposes of presentation, the Company has indicated its accounting year
ended on March 31 and our interim quarterly periods as ending on the applicable month end.
1 In November 2007, the Company announced plans to close AEG’s manufacturing facility in Dongguan, China, to shut down a
related Hong Kong research and development, sales and procurement office and to consolidate procurement, research and
development activities for AEG in the Shenzhen, China site. As a result of these activities, $2.9 million and $0.7 million in
restructuring and other related charges was recorded in the third and fourth quarters of fiscal 2008, respectively. In addition, in
fiscal 2009, $0.2 million and $(0.1) million in restructuring and other related charges was recorded in the first and second
quarters, respectively.
2 In the fourth quarter of fiscal 2008, the Company recorded adjustments to foreign currency gains and losses recognized in prior
periods, a correction of depreciation expense and income tax expense related to prior periods, and a reversal of an allowance for
customer discounts recorded in a prior period. The impact of these adjustments on fourth quarter net income and earnings per
share was a decrease of $1.9 million and a decrease of $0.04, respectively. The Company and its Audit Committee believe that
such amounts are not material to the current and previously reported financial statements.