Plantronics, Inc. (NYSE: PLT) today announced that it has completed its
previous 1,000,000 share repurchase authorization announced in November
2013 and has authorized an additional 1,000,000 shares to be repurchased.
Under the new 1,000,000 share repurchase authorization, we may from time
to time purchase shares of our common stock, depending upon market
conditions, in open market or privately negotiated transactions.
“Our philosophy has been to return to our stockholders cash in excess of
our operating needs, and stock repurchase programs are an excellent
means of executing on this philosophy,” stated Ken Kannappan, President
& CEO. “Our management team and Board of Directors believe in our
long-term growth prospects, business model and cash flow generation
capability, and think that repurchases will be accretive to our earnings
per share. We are thus continuing with our commitment to repurchase our
stock.”
Safe Harbor
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, including statements
that we may repurchase shares of our common stock under the new
1,000,000 share repurchase authorization, that we believe in our
long-term growth prospects, we will achieve business model, generate
cash or that our stock repurchases will be accretive to earnings per
share.
This press release is neither an offer to purchase nor a solicitation of
an offer to sell any securities.
For more information concerning these and other possible risks, please
refer to our Annual Report on Form 10-K filed with the Securities and
Exchange Commission on May 24, 2013 and other filings with the
Securities and Exchange Commission, as well as recent press releases.
The Securities and Exchange Commission filings can be accessed over the
Internet at http://www.sec.gov/edgar/searchedgar/companysearch.html.
About Plantronics
Plantronics is a global leader in audio communications for businesses
and consumers. We have pioneered new trends in audio technology for over
50 years, creating innovative products that allow people to
simply communicate. From Unified Communication solutions to Bluetooth
headsets, we deliver uncompromising quality, an ideal experience, and
extraordinary service. Plantronics is used by every company in the
Fortune 100, as well as 911 dispatch, air traffic control and the New
York Stock Exchange. For more information, please visit www.plantronics.com
or call (800) 544-4660.
Plantronics and the logo design are trademarks or registered trademarks
of Plantronics, Inc. All other trademarks are the property of their
respective owners.
Plantronics, Inc.
INVESTOR:
Greg Klaben, 831-458-7533
Vice President of Investor Relations
or
MEDIA:
Genevieve Haldeman, 831-458-7343
Vice President of Global Communications