Form 8K Tax Provision Adjustment Press Release Announcement
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE
OF REPORT (DATE OF EARLIEST EVENT REPORTED): February 9,
2006
Plantronics,
Inc.
(Exact
name of Registrant as Specified in its Charter)
Delaware
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1-12696
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77-0207692
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(State
or Other Jurisdiction of Incorporation or Organization)
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(Commission
file number)
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(I.R.S.
Employer Identification Number)
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345
Encinal Street
Santa
Cruz, California 95060
(Address
of Principal Executive Offices including Zip Code)
(831)
426-5858
(Registrant's
Telephone Number, Including Area Code)
N/A
|
(Former
name or former address, if changed since last
report)
|
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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SECTION
2 - Financial Information
Item
2.02 Results of Operations and Financial Condition
On
February 9, 2006, Plantronics, Inc., a Delaware corporation (“the Company”)
issued a press release reporting a reduction to income tax expense that was
not
reflected in its earnings press release of January 24, 2006. As a result of
this
change, income tax expense for the nine months ended December 31, 2005 was
lower
by approximately $3 million and net income was higher by the same amount.
Specifically, net income for the nine months ended December 31, 2005 was $60.4
million or $1.24 per diluted share, rather than the $57.4 million and $1.18
per
share as previously reported. For the three months ended December 31, 2005,
net
income was $25 million and $0.52 per share in comparison to $22.0 million and
$0.46 per share, as previously reported.
The
tax
provision for the third quarter of fiscal 2006 includes the benefit from the
reversal of $1.7 million of deferred tax liabilities relating to the purchase
accounting for the Altec Lansing acquisition, which had not been included in
our
results in the earnings press release. Also included in the tax provision for
the third quarter of fiscal 2006 is the benefit from the reversal of $1.3
million of deferred tax liabilities relating to the purchase accounting for
Altec Lansing which should have been recorded in the second quarter of fiscal
2006, the effect of which was to increase third quarter net income by $1.3
million and earnings per share by $0.03 per diluted share.
A
copy of
this press release is furnished as Exhibit 99.1 to this Current Report on Form
8-K.
The
information contained herein, including Exhibit 99.1 attached hereto, is
intended to be furnished and shall not be deemed “filed” for purposes of Section
18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise
subject to the liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933 or the Exchange
Act,
except as expressly set forth by specific reference in such filing.
SECTION
9 - Financial Statements and Exhibits
Item
9.01 Financial Statements and Exhibits.
The
following exhibits are furnished as part of this report.
Exhibit
Number
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Description
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SIGNATURE
Pursuant
to the 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.
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PLANTRONICS,
INC.
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|
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Date: February
9, 2006
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By:
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/s/ Barbara
Scherer
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Barbara
Scherer
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Senior
Vice President and Chief Financial
Officer
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