Plantronics 2014 Annual Report Download

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Simply Smarter Communications®
Annual Report 2014

Table of contents

  • Page 1
    Annual Report 2014 Simply Smarter Communications®

  • Page 2
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  • Page 3
    Plantronics Annual Report 2014 Annual Report 2014 Financial Highlights Net Revenues Dollars in millions Income from Continuing Operations, Net of Tax Dollars in millions 683.6 613.8 713.4 762.2 818.6 109.2 76.5 109.0 106.4 112.4 Fiscal Year 2010 2011 2012 2013 2014 Fiscal Year ...

  • Page 4
    ...1972 Plamex (Plantronics Mexico) opens in Tijuana 1961 Pacific Plantronics is incorporated 1983 The new StarSet Supra soon becomes the call center industry standard 1995 FreeHand, an ultralightweight in-the-ear headset is introduced 1963 FAA selects Plantronics as its sole headset provider 1969...

  • Page 5
    ...introduced with Voyager PRO UC 2010 Savi Office wireless headset system unifies PC and desk phone communications 2012 Plamex celebrates 40 years in Tijuana 2014 Plantronics receives Award for Corporate Excellence from U.S. Secretary of State for their operation at Plantronics Mexico (Plamex) 2013...

  • Page 6
    ... Tijuana, Mexico. Our significant manufacturing activities at Plantronics Mexico are complemented and strengthened by teams focused on product design, quality testing and customer support. With approximately 70% of our employees now working under one roof (which also happens to be the second largest...

  • Page 7
    Plantronics Annual Report 2014 Our Mission Provide indispensable wearable solutions for the knowledge worker.

  • Page 8
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  • Page 9
    ...of incorporation or organization) 345 Encinal Street, Santa Cruz, California (Address of 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...

  • Page 10
    ... reporting company) Accelerated Filer Smaller Reporting Company No Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes The aggregate market value of the common stock held by non-affiliates of the Registrant, based upon the closing price...

  • Page 11
    ... 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 Related Stockholder Matters...

  • Page 12
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  • Page 13
    ...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 Relations or Corporate Governance sections of our website, we provide access free...

  • Page 14
    ...mandating hands-free devices for telephonic communications while driving has led to increased headset adoption for mobile phone users. The increased adoption of new and existing technologies, such as UC, Bluetooth, Voice over Internet Protocol ("VoIP"), Digital Signal Processing ("DSP"), and Digital...

  • Page 15
    ... and enhanced roadway safety by allowing users to have both hands free to drive while talking on a mobile phone Voice command and control that allow people to take advantage of voice dialing and/or other voice-based features to make communications and the human/electronic interface more natural and...

  • Page 16
    ...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, Samsung, LG, and Bose are significant competitors in the consumer mono Bluetooth headset market. Sennheiser Communications and Logitech are...

  • Page 17
    ... primarily serve the contact center markets in those regions, we are expanding into the office, mobile, gaming and computer audio, and specialty telephone markets in those locations. Our commercial distributors include global technology and electronics distributors, headset specialists, and national...

  • Page 18
    ... also sell our consumer headsets as Plantronics-branded products and in some cases, in their private label packaging. Carriers purchase headset products from us for use by their own agents and in some cases, also offer headsets to their customers. We also make direct sales as a General Services...

  • Page 19
    ...risks of international operations" within Item 1A Risk Factors in this Annual Report on Form 10-K. We purchase the components for our products primarily from suppliers in Asia, Mexico, the U.S., and Europe, including proprietary semi-custom integrated circuits, amplifier boards, and other electrical...

  • Page 20
    ...joining Plantronics, from 2005 to 2012, Ms. Strayer held senior financial management roles at Autodesk, Inc., a world leading software design and services company. Most recently, Ms. Strayer served as Autodesk's Vice President of Finance, Corporate Controller, and Principal Accounting Officer. Prior...

  • Page 21
    ...to 1985, Mr. Houston held various sales and marketing management positions with IBM Corporation. Mr. Houston graduated from the University of Arizona with a Bachelor of Science degree in Business/Marketing. Ms. Lovegren joined Plantronics in 2013 as Senior Vice President of Human Resources. Prior to...

  • Page 22
    ... domestic and international business hiring has perpetuated employee reluctance to change jobs, limits opportunities for unemployed workers to reenter the workforce and, consequently, impedes sales of our headsets. U.S. federal government spending cuts under the Budget Control Act of 2011...

  • Page 23
    ... offering firmware and software fixes, updates, and upgrades electronically over the Internet and developing standalone software applications. As the nature and extent of software integration in our products increases or if sales of standalone software applications become material, the way we report...

  • Page 24
    ... will offer solutions that will effectively commoditize our headsets increases, which, in turn, may reduce the sales prices for our headsets. The market success of major platform providers and strategic partners such as Microsoft Corporation, Cisco Systems, Inc., Avaya, Inc., Alcatel-Lucent, and...

  • Page 25
    ... long for silicon-based components incorporating radio frequency and digital signal processing technologies and such materials and components make up an increasingly larger portion of our product costs. In particular, many consumer product orders have shorter lead times than component lead...

  • Page 26
    ... markets. We also experience competition from consumer electronics companies that manufacture and sell mobile phones or computer peripheral equipment. Many of our competitors are larger, offer broader product lines, may integrate their products with communications headset devices and adapters...

  • Page 27
    ... price increases is limited. Difficulties retaining or obtaining shelf space and maintaining a robust and compelling eCommerce presence for consumer products in our sales channel, particularly with large "brick and mortar" retailers and Internet "etailers" as the market for mono Bluetooth headsets...

  • Page 28
    ... defects in the early stages of production. Office phones have begun to incorporate Bluetooth functionality, which has opened the market to consumer Bluetooth headsets and reduced the demand for our traditional office telephony headsets and adapters resulting in lost revenue, lower margins, or both...

  • Page 29
    ... party manufacturers located outside the U.S., and a significant amount of our revenues are generated internationally, which subjects our business to risks of international operations. We own and operate a manufacturing facility in Tijuana, Mexico. We also have suppliers, contact manufacturers, and...

  • Page 30
    ... the risk of significant design or deployment errors causing disruptions, delays, or deficiencies that could adversely affect our ability to process orders, ship products, procure products, materials or resources from our supply chain, provide services and customer support, send invoices and track...

  • Page 31
    ... interference or diminished product performance. In particular, the release of a third party wireless device in the U.S. that operates in the unlicensed 903-928 megahertz radio frequency range using significantly higher power than the power used by our wireless products and those of many other users...

  • Page 32
    ...corded headsets reduces radio frequency emissions at the user's head to virtually zero and our Bluetooth and other wireless headsets emit significantly less powerful radio frequency emissions than mobile phones; however, if research establishes a health hazard from the use of mobile phones or public...

  • Page 33
    ... systems"), including the Internet and third-party hosted services, to support a variety of business activities, including procurement, manufacturing, sales, distribution, invoicing, and collections. We use information systems to process and report financial information internally and to comply with...

  • Page 34
    ..., public health issues, flu or similar epidemics or pandemics, and other events beyond our control and the control of our Suppliers. Our corporate headquarters, information technology, manufacturing, certain research and development activities, and other critical business operations are located near...

  • Page 35
    ... 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 36
    ...ISSUER REPURCHASES 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 2014...

  • Page 37
    ... reflect the available shares authorized for repurchase under the November 11, 2013 and February 20, 2014 programs. 2 3 4 5 6 Refer to Note 10, Common Stock Repurchases, of our Notes to Consolidated Financial Statements in this Annual Report on Form 10-K for more information regarding our...

  • Page 38
    ... costs by eliminating 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...

  • Page 39
    ...headset market, as well as development efforts for additional new consumer products to be launched in fiscal year 2015 and beyond. We made major capital investments in our infrastructure to scale for growth with a new manufacturing facility in Tijuana, Mexico and a reimplementation of our global ERP...

  • Page 40
    ... 2013 in our Bluetooth product portfolio, which included Voyager Legend and Marque in the mono Bluetooth category, and BackBeat GO 2 in the stereo Bluetooth category. These products led a strong performance across our Mobile Bluetooth portfolio in the year, allowing us to participate fully in market...

  • Page 41
    ... % $ 762,226 OCC products represent our largest source of revenues, while Mobile products represent our largest unit volumes. Net revenues may vary due to seasonality, the timing of new product introductions and discontinuation of existing products, discounts and other incentives, and channel mix...

  • Page 42
    ... was due primarily to increased Mobile net revenues, driven mainly by increased demand attributable to hands-free laws enacted in the PRC during the fiscal year and to a lesser extent, the benefit of a stronger portfolio, especially in Europe and Africa. International revenues were reduced by...

  • Page 43
    ... in Plantronics' global sales presence, and from higher performance-based compensation, including sales commissions, reflecting higher net revenues and higher overall achievement against targets. We also made investments in marketing programs of $4.6 million, including product launch activities...

  • Page 44
    ... due primarily to the increased benefit from the U.S. federal research tax credit in fiscal 2013 offset by a... or on which the statute of limitations could expire without assessment from tax ...currently under examination by the Internal Revenue Service for our 2010 tax year. The California Franchise...

  • Page 45
    ... of a new manufacturing facility in Tijuana, Mexico and costs incurred to commence implementation of a new ERP system The acquisition of all the equity interests in Tonalite B.V. ("Tonalite"), a product and design company specializing in wireless wearable products and miniaturization technology 33

  • Page 46
    ...well as costs associated with building and leasehold improvements at our U.S. headquarters and our facility in Mexico. In addition, we will continue to incur costs related to the implementation of a new ERP system, which we expect to place in service in the first quarter of our fiscal year 2015, and...

  • Page 47
    ..., in the open market or through privately negotiated transactions, including ASR agreements. The following table summarizes our repurchase of common stock as part of these publicly announced repurchase programs as well as share withheld in satisfaction of employee tax withholding obligations upon...

  • Page 48
    ... when they are consumed in the production process. Prior to consumption in the production process, our suppliers bear the risk of loss and retain title to the consigned inventory. The terms of the agreements allow the Company to return parts in excess of maximum order quantities to the suppliers at...

  • Page 49
    ... incentive programs, such as rebates, advertising, price protection, and other sales incentives. We have an established sales history for these arrangements and we record the estimated reserves and allowances at the time the related revenue is recognized. Customer sales returns are estimated based...

  • Page 50
    ... considers projected future shipments, market conditions, inventory on hand, purchase commitments, product development plans and product life cycle, inventory on consignment, and other competitive factors. Refer to "Off Balance Sheet Arrangements" in this Annual Report on Form 10-K for additional...

  • Page 51
    ... of Mutual Funds, Government Agency Securities, Commercial Paper, Corporate Bonds, and Certificates of Deposit ("CDs"). Our investment policy and strategy are focused on preservation of capital and supporting our liquidity requirements. Our exposure to market risk for changes in interest rates...

  • Page 52
    ...use...sales and our MXN denominated expenditures. We can provide no assurance that our strategy will be successful in the future and that exchange rate fluctuations will not materially adversely affect our business. We do not hold or issue... Sell EUR Sell GBP Sell ...indicated...cross currency swap contracts with notional ...

  • Page 53
    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... 10% Gain From 10% Appreciation of Depreciation of USD USD (1.4) $ $ 1.7 Currency - cross-currency swap contracts Position: Buy MXN USD Value of...

  • Page 54
    ... and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control...

  • Page 55
    PLANTRONICS, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) March 31, 2014 2013 ASSETS Current assets: Cash and cash equivalents Short-term investments Accounts...12,005 925 118,...stock, $0.01 par value per share; 100,000 shares authorized, 44,731 shares and 43,296 shares issued...

  • Page 56
    ..., and engineering Selling, general, and administrative Restructuring and other related charges Total operating expenses Operating income Interest and other income, net Income before income taxes Income tax expense Net income Earnings per common share: Basic Diluted Shares used in computing earnings...

  • Page 57
    PLANTRONICS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) Fiscal Year Ended March 31, 2014 2013 2012 ... $ $ 109,036 (788) 2,951 2,415 385 5,751 68 (11) $ 57 (136) 4,884 113,920 $ $ $ The accompanying notes are an integral part of these consolidated financial statements. 45

  • Page 58
    ... FROM FINANCING ACTIVITIES Repurchase of common stock Proceeds from issuances under stock-based compensation 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...

  • Page 59
    ...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... notes are an integral part of these consolidated financial statements. 47

  • Page 60
    ... 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 61
    ... and to the parts transfers to the Company. Prior to consumption in the production process, the Company's suppliers bear the risk of loss and retain title to the consigned inventory. The terms of the agreements allow the Company to return parts in excess of maximum order quantities to the suppliers...

  • Page 62
    ... 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 rates, the amount of time lapsed from the date of sale to the date of return, material usage, and...

  • Page 63
    ...using pricing models that use observable market inputs. Revenue Recognition The Company sells substantially all of its products to end users through distributors, retailers, carriers, and original equipment manufacturers ("OEMs"). The Company's revenue is derived from the sale of headsets, telephone...

  • Page 64
    ... of the Company's European finance, sales and logistics headquarters in the Netherlands, sales office and warehouse in Japan, a manufacturing facility in Tijuana, Mexico, and logistic and research and development facilities in China, is the U.S. Dollar. For these foreign operations, assets and...

  • Page 65
    ... Securities, Commercial Paper, Corporate Bonds, and CDs. Concentrations of credit risk with respect to trade receivables are limited due to the large number of customers that comprise the Company's customer base and their dispersion across different geographies and markets. No customer accounted...

  • Page 66
    ... Level 1: Mutual Funds Level 2: Government Agency Securities Commercial Paper Corporate Bonds Certificates of Deposits ("CDs") Subtotal Total cash,...all of the Company's investments are classified as available-for-sale securities. The carrying value of available-for-sale securities included in cash...

  • Page 67
    ... 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, plant, and equipment, net: $ $ March...

  • Page 68
    ...965 $ 13,410 (1) During the third quarter of fiscal year 2014, the Company identified immaterial out of period errors related to its estimated warranty obligation and return material authorization ("RMA") reserves, the correction of which decreased its cost of revenues by approximately $2.4 million...

  • Page 69
    ... 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 70
    ... employees, non-employee directors, and consultants of Plantronics. The Company settles stock option exercises and releases of vested restricted stock with newly issued common shares. The exercise price of stock options may not be less than 100% of the fair market value of the Company's common stock...

  • Page 71
    ... Selling, general and administrative Stock-based compensation expense included in operating expenses Total stock-based compensation Income tax benefit Total stock-based compensation expense, net of tax Stock Plan Activity Stock Options The following is a summary of the Company's stock option...

  • Page 72
    ...of future employee behavior. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The dividend yield assumption is based on our current dividend and the market price of our common stock at...

  • Page 73
    ....8 million, respectively, and an average price per share of $43.94, $31.84, and $33.46, respectively. The Company financed the repurchases using a combination of funds generated from operations and borrowings under its revolving line of credit. Privately Negotiated Transactions Pursuant to a Board...

  • Page 74
    ..., separate derivative transactions. As of March 31, 2014, the Company has International Swaps and Derivatives Association (ISDA) agreements with three applicable banks and financial institutions which contain netting provisions. Plantronics has elected to present the fair value of derivative assets...

  • Page 75
    ... 2014: Local Currency (in thousands) â,¬ 19,600 £ 1,600 A$ 3,700 USD Equivalent (in thousands) $ 26,951 $ 2,662 $ 3,413 Position Sell EUR Sell GBP Sell AUD Maturity 1 month 1 month 1 month EUR GBP AUD Effect of Non-Designated Derivative Contracts on the Consolidated Statements of Operations The...

  • Page 76
    ...3,441 3,367 640 4,007 1,371 $ 2012 (3,814) 2,951 (2,415) (385) (2,800) 1,937 $ $ $ The Company recognized an immaterial loss in the consolidated statement operations on the ineffective portion of the cash flow hedges reported in interest and other income, net during the year ended March 31, 2014...

  • Page 77
    ...and the income tax expense for fiscal years 2014, 2013, and 2012: (in thousands) Tax expense at statutory rate Foreign operations taxed at different rates State taxes, net of federal benefit Research and development credit Other, net Income tax expense $ Fiscal Year Ended March 31, 2014 2013 2012 49...

  • Page 78
    ..., 2014 was related to the net operating losses of a foreign subsidiary with an insufficient history of earnings to support the realization of the deferred tax asset. The impact of an uncertain income tax position on income tax expense must be recognized at the largest amount that is more likely than...

  • Page 79
    ... be predicted with certainty. If any issues addressed in the tax examinations are resolved in a manner inconsistent with the Company's expectations, the Company could be required to adjust its provision for income tax in the period such resolution occurs. The timing of any resolution and/or closure...

  • Page 80
    ... INFORMATION The Company designs, manufactures, markets, and sells headsets for business and consumer applications, and other specialty products for the hearing impaired. With respect to headsets, it makes products for use in offices and contact centers, with mobile and cordless phones, and with...

  • Page 81
    ...and March 30, 2013, respectively. For purposes of presentation, the Company has indicated its accounting fiscal year as ending on March 31 and our interim quarterly ...positions in the US., Mexico, China, and Europe, and transitioned some of these positions to lower cost locations. The pre-tax charges...

  • Page 82
    ... (i) is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (ii) is accumulated and communicated to Plantronics' management, including our Chief Executive Officer and our Chief Financial Officer, as appropriate, to...

  • Page 83
    ... 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 under "Code of Ethics." ITEM 11. EXECUTIVE...

  • Page 84
    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 2014 Proxy Statement and is incorporated in this Item 14 by this reference. 72

  • Page 85
    ... 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 86
    ... Statement 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, 2014 Year ended March 31, 2013 Year ended March 31, 2012 Provision for returns...

  • Page 87
    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(a) (2) above. 75

  • Page 88
    ... requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. May 16, 2014 PLANTRONICS, INC. By: Name: Title: /s/ Ken Kannappan Ken Kannappan Chief Executive Officer POWER OF ATTORNEY KNOW...

  • Page 89
    ... 2009, as Amended September 10, 2010 Plantronics, Inc. Executive Incentive Plan Plantronics, Inc. 2003 Stock Plan, as amended and restated effective as of August 1, 2013, as approved by Registrant's Board of Directors on March 12, 2013 Plantronics, Inc. 2002 Employee Stock Purchase Plan, amended and...

  • Page 90
    ... October 15, 2011, between Plantronics, B.V., and GoerTek, Inc. 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...

  • Page 91
    ... States India Australia Brazil Canada Cayman Islands China China Dubai Germany Russia Japan Malta Mexico Netherlands Singapore United Kingdom Chile 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Frederick Electronics Corp. Plantronics India Private Limited Plantronics Pty. Limited Brazil Plantronics...

  • Page 92
    ... 333-67781) of Plantronics, Inc. of our report dated May 16, 2014 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, California...

  • Page 93
    ... in the design or operation of internal control over financial reporting which are reasonably likely to 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...

  • Page 94
    ... in the design or operation of internal control over financial reporting which are reasonably likely to 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...

  • Page 95
    ... 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 May 16, 2014 I, Pamela...

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  • Page 97
    Plantronics Annual Report 2014 Plantronics Stock Performance Set forth below is a line graph comparing the annual percentage change in the cumulative return to the stockholders of Plantronics common stock with the cumulative return of the NYSE Stock Market index and a peer group index for the ...

  • Page 98
    ... of Operations Senior Vice President, Sales Chief Strategy Officer Senior Vice President, Human Resources Senior Vice President, Marketing and Chief Marketing Officer Senior Vice President, Communication Solutions President, Clarity Division Senior Vice President and Managing Director, Europe and...

  • Page 99
    ... are widely used with mobile phones, in contact centers, in the office, in the home, for applications such as Unified Communications (UC), with Voice over Internet Protocol (VoIP), for gaming, and for other specialty applications. Plantronics is a publicly traded company (NYSE: PLT) headquartered in...

  • Page 100
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