Plantronics (PLT) Announces Additional 1M Share Buyback
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Plantronics, Inc. (NYSE: PLT) completed its previous 7,000,000 share repurchase authorization announced in May 2011 and has authorized an additional 1,000,000 shares to be repurchased.
"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 have a strong conviction in our long-term growth prospects, business model and cash flow generation capability, and believe that repurchases will be accretive to our earnings per share. We are thus continuing with our commitment to repurchase our stock."
"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 have a strong conviction in our long-term growth prospects, business model and cash flow generation capability, and believe that repurchases will be accretive to our earnings per share. We are thus continuing with our commitment to repurchase our stock."
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