Ahead Of The Bell: Plantronics Upgraded

Plantronics expects to have the plan completed by October, and predicted it will record $11 million to $13 million in related restructuring charges. About $6 million to $7 million of this will be in non-cash charges, while about $5 million to $6 million will be cash charges stemming mostly from employee termination benefits and other expenses.

Plantronics also anticipates recording about $2 million to $2.5 million in increased tax expenses related to the operation changes.

McCourt lowered his estimate for Plantronics' fiscal fourth quarter, but raised his estimate for fiscal 2010 to 75 cents per share from 35 cents per share. Excluding items, he expects profit $1.07 per share, up from a previous estimate of 68 cents per share.

He also said that he thinks the company's main headset business will bear $1.15 per share in adjusted earnings in 2010.