Plantronics, Inc., (NYSE: PLT) today announced it had completed the
1,000,000 share repurchase program it authorized on January 25, 2008 and
that its Board of Directors has authorized a new 1,000,000 share
repurchase program. Under the new repurchase program, Plantronics will,
from time to time, purchase shares of its common stock, depending upon
market conditions, in open market or privately negotiated transactions.
“We have a consistent record of share repurchases, with over 21 million
shares repurchased since fiscal 1997. We believe that our future cash
flows will provide sufficient liquidity to support another share
repurchase program. In addition, our cash and cash equivalents position
of approximately $200 million as of September 27, 2008 combined with no
outstanding debt, places Plantronics in a very strong financial
position,” stated Barbara Scherer, Senior Vice President and Chief
Financial Officer of Plantronics. “We purchase shares when we believe it
will be strongly accretive to earnings per share 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,” she continued.
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
