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Plantronics' CEO Discusses Q4 2012 Results - Earnings Call Transcript

For further information, please refer to the company's forms 10-K, 10-Q, today's press release and other SEC filings. We'll be discussing non-GAAP measures during today's call, and we have reconciled these measures in our earnings press release and in our quarterly analyst metric sheet, both available on the Investor Relations section of the Plantronics website.

Plantronics' fourth quarter fiscal 2012 net revenues were $177.6 million compared with guidance provided on January 31, 2012, of $175 million to $180 million. Plantronics' GAAP diluted earnings per share was $0.55 compared with $0.53 in the same quarter of the prior year and guidance of $0.56 to $0.61.

Non-GAAP diluted earnings per share for the fourth quarter of fiscal 2012 was $0.62 compared with $0.60 in the prior-year quarter and guidance of $0.63 to $0.68. The difference between GAAP and non-GAAP EPS for the fourth quarter of fiscal 2012 consists of stock-based compensation charges, net of the associated tax impact.

With that, I'll turn the call over to Ken.

S. Kenneth Kannappan

Thank you, Greg. There are 3 points I'd like to mention about our fourth quarter and fiscal 2012 results. The first is our strong fiscal year '12; the second is how contextual intelligence is critical to Unified Communications; and the third is our continued confidence that our UC opportunity and our updated view of our total addressable market.

First, highlights in fiscal 2012 include revenue growth of $713 million, including Office and Contact Center growth of 8% and UC growth of 76%. We achieved record non-GAAP earnings per share of $2.65, up 10% from the prior year and maintained our position in Office and Contact Center, or OCC, while improving our position in mobile.

Based on the prioritization of UC investments, we had fewer new product introductions in mobile in the early part of our fiscal year. Combined with weak category conditions, we acknowledged share loss through the September quarter with a stabilized share in December.

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