Plantronics 2013 Annual Report Download - page 6

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Plantronics Letter from the CEO
Dear Fellow Stockholders,
Fiscal year 2013 was a stellar year for Plantronics. We saw major gains in our key metrics and continued to capitalize
on important market opportunities. Our product innovation has also positioned us well for the coming year.
During the year, net revenues grew by 7% to $762 million, and earnings per share grew by 3% to $2.49. Unified
Communications (“UC”) continues to be our key growth driver. Revenue from our UC product portfolio grew by 40%
from the previous fiscal year to $131 million and represented 24% of our Office and Contact Center (“OCC”) revenues,
up from 18% in fiscal year 2012; generating growth in an otherwise challenging economic environment.
UC remains our most significant opportunity. We remain as confident as ever of the continued prospects for
growth based on our industry leading UC products. Our UC position continues to be enhanced by innovation and
breakthroughs in contextual intelligence. We believe that UC market momentum is building, and based on numerous
IT department surveys, a large number of enterprises initiated adoption and deployment of the technology and many
more intend to do so in the coming years.
We believe we are well positioned for the coming UC opportunity. In March 2013, Frost & Sullivan recognized
our leadership, honoring Plantronics with a Visionary Innovation Award for our accomplishments in the Unified
Communications and Collaboration 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 are to:
• Deliver Profitable Growth by delivering compelling communication experiences that help customers improve
efficiency and ease of use across the enterprise.
• Extend our Brand to be relevant to a broader addressable market.
• Expand our Consumer Reach to become the indispensible interface users turn to for connected experiences
throughout their day.
• Scale for Growth by improving operational effectiveness and the flexibility of the value chain.
• Optimize the Culture to promote innovation, productivity and employee well-being.
We believe achievement of these goals will permit us to continue to increase long-term stockholder value and cash
flow generation.
Lastly, I would like to address my health and my temporary medical leave of absence. I am currently undergoing
treatment to address a treatable form of cancer. During my leave I am staying involved to the extent practical.
Otherwise, Pam Strayer, our SVP & CFO, is Plantronics’ Acting Chief Executive Officer and is well qualified to continue
to implement on our strategy and run day-to-day operations.
On behalf of everyone at Plantronics, I want to thank you for your continued support.
Sincerely,
Ken Kannappan
President and Chief Executive Officer
(On Temporary Medical Leave of Absence)