Plantronics, Inc., (NYSE: PLT) today announced a 1,000,000 share
repurchase program. Pursuant to the Stock Repurchase Program, the
Company will, from time to time, purchase shares of its common stock,
depending upon market conditions, in open market or privately negotiated
transactions.
Barbara Scherer, Senior Vice President and Chief Financial Officer of
Plantronics, noted, “Plantronics continues to generate positive cash
flow and we believe it is prudent to use a portion of this cash to
increase shareholder value through the repurchase of our stock. We
believe that our cash balance and future cash flows will provide
sufficient liquidity to support another share repurchase program. We
purchase shares when we believe it should be strongly accretive to EPS
to do so in comparison to alternative investment choices. Our Board of
Directors believes that Plantronics stock presents an attractive
investment for the Company and its stockholders,” Scherer concluded.
About Plantronics
In 1969, a Plantronics headset carried the historic first words from the
moon: “That’s one small step for man, one giant leap for mankind.” Since
then, Plantronics has become the headset of choice for mission-critical
applications such as air traffic control, 911 dispatch, and the New York
Stock Exchange. Today, this history of Sound Innovation® is the basis
for every product we build for the office, contact center, personal
mobile, entertainment and residential markets. The Plantronics family of
brands includes Plantronics, Altec Lansing, Clarity, and Volume Logic.
For more information, go to www.plantronics.com
or call (800) 544-4660.
Altec Lansing, Clarity, Plantronics, Sound Innovation, Volume Logic and
AudioIQ are trademarks or registered trademarks of Plantronics, Inc. All
other trademarks are the property of their respective owners.
